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JPMorgan CEO Jamie Dimon says Trump tariffs will boost inflation, slow an already weakening U.S. economy (www.cnbc.com)

submitted 2 months ago by MicroWave@lemmy.world to c/economics@lemmy.world

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KEY POINTS

JPMorgan Chase CEO Jamie Dimon said tariffs announced by Donald Trump will likely boost prices on both domestic and imported goods, weighing down a U.S. economy that had already been slowing.
He’s the first CEO of a major Wall Street bank to publicly address Trump’s sweeping tariff policy as global markets crash.
“Markets still seem to be pricing assets with the assumption that we will continue to have a fairly soft landing,” Dimon said. “I am not so sure.”

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[–] seeigel@feddit.org 21 points 2 months ago (2 children)

The former Greek finance minister says that weakening the dollar is the objective:

https://unherd.com/2025/02/why-trumps-tariffs-are-a-masterplan/

So rising prices are to be expected.

[–] ArbitraryValue@sh.itjust.works 3 points 2 months ago* (last edited 2 months ago) (1 children)

I have a hard time believing this. It's more of the 4D chess that his supporters believed he was playing, but I think the evidence has shown that he isn't pretending to be ignorant and stubborn. If a different sort of President instituted tariffs then this could have been the plan, but if it happens now then it will be happening by coincidence.

(Or is the extremely careless and unreasonable way that the tariff rates were calculated also part of Trump's madman theory? I doubt it.)

[–] seeigel@feddit.org 1 points 2 months ago

I think so. If Trump would be mad for real, Wallstreet and the big companies would finance an impeachement.

This is a show for the people so that they don't discuss the additional tax.

[–] Buelldozer@lemmy.today 20 points 2 months ago (1 children)

Three months ago Jamie Dimon was telling people to "Get over it" in regards to their fears with the Trumpican Tariffs. Fuck this guy.

[–] l_isqof@lemmy.world 3 points 2 months ago

Yeah, this Sherlock just discovered that water makes you wet.

[–] ryedaft@sh.itjust.works 1 points 2 months ago

Duh, you think?