Jamie Dimon, CEO of JPMorgan Chase, said on Wednesday that the tariffs implemented by U.S. president Donald Trump would likely lead to a depression and defaults among borrowers. He made this statement during Fox Business Mornings with Maria.
Dimon stated, “As long as rates are going up… inflation remains sticky, and credit spreads gape out, which is what they will do, I believe you’ll have more credit problems.”
Dimon called for rapid progress in trade negotiations with U.S. partners to calm the markets that have been shaken by tariff announcements.
