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Jamie Dimon Warns of a ‘Bad Recession’ Due to Coronavirus Crisis

JPMorgan Chase main government officer Jamie Dimon mentioned he expects the financial fallout from the coronavirus pandemic to contain a poor recession and strain the money technique in techniques related to the 2008 money crisis.

In his yearly letter to shareholders, Dimon mentioned the premier financial institution in the U.S. was moving into the crisis from a posture of power but the pandemic introduced difficulties that were being “dramatically different” from those people imagined in the Federal Reserve strain assessments.

JP Morgan Chase CEO Jamie Dimon

“After the crisis subsides (and it will), our region really should comprehensively assessment all

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Business Value

Expectations for recession: Sharp but hopefully short

Transcript

Greg Davis:  There is been a whole lot of problem about the R phrase “recession”. What’s your team’s feelings in phrases of the chance that we’re going to enter a recession and what you would be looking out for?

Joe Davis:  Well, unfortunately, Greg, you know the U.S. financial system is going to enter a deep recession. You know, the character of the endeavours to consist of the virus has also led to closures or suspension of a whole lot of business enterprise exercise, especially in the support sector. And so our estimate is that the financial system will

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