JPMorgan CEO Dimon: US Economy Resilient Amidst Persistent Risks

2025-07-15 22:47:00

JPMorgan Chase CEO Jamie Dimon said the U.S. economy has remained resilient, but warned of potential risks to the outlook.

Economy resilient but faces risks, says JPMorgan CEO

JPMorgan Chase CEO Jamie Dimon sees a resilient U.S. economy through the second quarter but points to potential stumbling blocks ahead.

The U.S. economy has remained strong through the second quarter of this year. However, JPMorgan Chase CEO Jamie Dimon noted Tuesday that potential headwinds could dampen the economic outlook moving forward.

“The finalization of tax reform and potential deregulation are positive for the economic outlook. However, significant risks persist,” Dimon said Tuesday. These include “tariffs and trade uncertainty, worsening geopolitical conditions, high fiscal deficits and elevated asset prices.”

What are the risks to the U.S. economic outlook? Dimon cited tariffs, trade uncertainty, geopolitical conditions, high fiscal deficits, and elevated asset prices as key concerns.

Dimon stated that JPMorgan takes a measured approach to projections, recalling past crises that caught many by surprise. “Our forecasting of the future is very complex,” he explained. “You probably heard me say that sometimes it’s a complete waste of time. Most people cannot really pick inflection points.”

Ticker	Security	Last	Change	Change %
JPM	JPMORGAN CHASE & CO.	286.30	-2.39	-0.83%

Dimon on Fed Independence

The CEO also addressed President Donald Trump’s disputes with the Federal Reserve and its leadership. Trump has frequently called for interest rate cuts and has made critical remarks about Federal Reserve Chair Jerome Powell.

Dimon emphasized the importance of the Federal Reserve’s independence, warning against undermining it.

Although the president has stated he will not attempt to fire Powell, with whom he lacks the legal authority to part ways except for cause, some allies have pointed to a renovation project at the Fed’s headquarters that has experienced cost overruns as potential grounds for dismissal.

“The president said he’s not going to try to remove Jay Powell,” Dimon told reporters on a conference call. “The independence of the Fed is absolutely critical, and not just for the current Fed chairman, who I respect, but for the next Fed chairman.”

“Playing around with the Fed can often have adverse consequences, absolutely the opposite of what you might be hoping for,” Dimon added.