In a letter to shareholders, JPMorgan Chase CEO Jamie Dimon said the U.S. is facing 'a bad recession,' combined with the kind of financial stress not seen since the global financial crisis of 2008.
JPMorgan Chase CEO Jamie Dimon says the coronavirus pandemic will have devastating consequences for the global economy.JPMorgan Chase CEO Jamie Dimon says the coronavirus pandemic will have devastating consequences for the global economy.The United States faces"a bad recession," combined with the kind of financial stress not seen since the global financial crisis of 2008, JPMorgan Chase CEO Jamie Dimon warns.
He applauded the speed with which the federal government and the world's central banks, including the Federal Reserve, have tried to mitigate the adverse effects of the pandemic. He said his own bank had entered the year in a position of strength and,"while conditions may sometimes be unusual and difficult, we are functioning smoothly."
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