JPMorgan Chase CEO Jamie Dimon struck a cautious tone this week, saying that a U.S. recession remains a “serious possibility” despite recent efforts to ease global trade tensions.
His remarks came days after President Donald Trump’s administration announced a 90-day tariff-reduction agreement with China.
“If there’s a recession, I don’t know how big it will be or how long it will last,” Dimon told Bloomberg Television on Thursday. “Hopefully we’ll avoid it, but I wouldn’t take it off the table at this point.”
While he praised the tariff pause as a “positive step,” he emphasized lingering risks. “You see people holding back on investment and thinking through what they want to do.”
The comments reflect a tempered but still uneasy outlook.
Just last month, Dimon had called a recession “likely” prior to the truce with China. JPMorgan’s economists now estimate a recession probability slightly below 50%, according to a Tuesday note from Chief U.S. Economist Michael Feroli.
The warning arrives as markets show mixed signals. Dimon also warns that the taxes on imported goods coming into the U.S. are much higher than a year ago, which could result in economic damage.
Though recent tariff moves have eased immediate trade friction, Dimon’s message underscores a stark reality: Preparation is paramount for protecting your assets.
To better weather the storm, consider putting a meeting with a financial advisor on your to-do list. A service like SmartAsset will match you with vetted, fiduciary financial advisors so you can pick the best one for your personal situation.
No matter how the markets are moving today, it’s important to be prepared for anything.
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