Business News Asia
The chief executive of JPMorgan Chase Jamie Dimon said today (Oct. 25) that current global political problems are more worrisome than the possibility of a recession in the United States.
The statement, issued at a meeting in Riyadh, said the conflict between Russia and Ukraine, U.S.-China geopolitical relations, and relations with the West in general are of greater concern than the possibility of a U.S. recession.
Previously, the U.S. and global economies were expected to enter recession in the middle of next year. Rising inflation and interest rates have impacted the global economy.
“The most important thing is the geopolitics around Russia and Ukraine, America and China, relationships of the western world. That to me would be far more concerning than whether there’s a mild or slightly severe recession,”Dimon said at Saudi Arabia’s Future Investment Initiative conference in Riyadh on Tuesday.