Jamie Dimon, the CEO of JPMorgan Chase, says that he still does not want to exclude a recession completely for the United States. In conversation with Bloomberg, Dimon cites the uncertainty about the tax war and geopolitical tensions as possible causes of economic problems.
50% chance of a recession
He is not alone, because according to the economists of his investment bank, the chance of a recession is around 50%. “If there is a recession, then I don’t know how big it will be or how long it will take. Hopefully we can avoid that scenario, but I would not fully talk to it at the moment,” says the flamboyant CEO of JPMorgan.
According to Dimon, the continuous wars and conflicts around the world also include economic uncertainty. But also unsolved problems in the United States, such as the growing government deficit.
And although the recent developments regarding Donald Trump’s trade war show in the right direction, according to Dimon many questions remain unanswered.
As far as trade agreements with China and the United Kingdom of King are concerned, Dimon rightly quotes that it is about provisional deals. In theory, everything could still happen.
What does this mean for Bitcoin?
For Bitcoin this mainly means that we have to be careful to quickly reach certain conclusions. In recent weeks, the digital currency has been enormously strong, but it can still be in the wrong direction in the coming period.
In addition, based on the story of Dimon, there appears to be too much uncertainty for a sustainable and popping bull market. As soon as these uncertainties will definitively disappear into the background, it becomes a different story.
What do you think? Will we see convincing new all-time highs for Bitcoin in 2025, or will there be a correction for the digital currency again soon?
Source: https://newsbit.nl/jpmorgan-ceo-ik-zou-een-recessie-niet-uitsluiten/
