Warnings from Wall Street CEOs about the US economy continue: Now the Trump-supporting JPMorgan CEO has warned!

JPMorgan Chase CEO Jamie Dimon issued a stern warning about the potential consequences of U.S. President Donald Trump’s recent tariff policies, stating that they could increase inflation and raise the likelihood of a global economic slowdown.

In his annual letter to shareholders, Dimon expressed concerns about the short-term effects of tariffs, stating that they could reduce economic growth in the U.S. and trigger fears of a recession.

JPMorgan CEO wrote, “The recent tariffs will likely increase inflation and are causing many to think more about the possibility of a recession,” and added: “Whether the menu of tariffs will lead to a recession is debatable, but it will slow down growth.”

Dimon acknowledged that some motivations behind the tariffs might be justified; however, he urged policymakers to consider the broader implications of these.

“Whatever you think about the legitimate reasons for the newly announced tariffs or their long-term effects, good or bad, they are likely to have significant short-term effects. These price increases will affect not only imported goods but also domestic prices.”

Dimon confirmed Trump’s general support for the “America First” agenda, stating that it is important to maintain global alliances.

“If the military and economic alliances of the Western world are fragmented, America itself will inevitably weaken over time. America cannot revert to ‘America Alone.’”