He used the meteorological dictionary in a speech at a conference in Bernstein .
“It’s occasionally sunny at the moment, things are looking good. Everyone thinks the Federal Reserve can handle that. However, a hurricane is in sight and coming towards us. We do not know if it is a minor or a superstorm. “Get better prepared,” Dimon said.
He added that “JP Morgan Chase” is preparing for bad results.
Dimon said the central bank must raise rates due to rising housing prices and other inflationary pressures. He stressed that he still thinks that the American banking system is in excellent condition and that it can withstand those challenges.
Dimon also said that JP Morgan Chase would do its best to attract talent to stay on top of the financial world. The CEO said he would be religiously committed to good pay to keep his best workers.