Jamie Dimon, CEO of the US bank JPMorgan Chase, is considered the most influential banker in the USA. The 68-year-old has been in the financial industry for over 40 years.
Dimon is the only major bank boss who remained at the helm through the financial crisis of 2008. In his annual letter to shareholders, the banker warns of risks “that dwarf everything that has existed since the Second World War.” The JPMorgan boss sees inflation as continuing to be at a higher level than investors expect. The worst scenario is stagflation, according to Dimon's letter. The leadership role of the USA is threatened externally by other nations, but also internally by polarization, says the CEO. In view of the global challenges, the CEO called for unity. The US economy remains “resilient, consumers continue to spend and markets expect currently a soft landing” However, the economy is being stimulated by high government spending and economic stimulus programs. In addition, the quantitative tightening is depriving the system of liquidity of $900 billion annually - on an unprecedented scale.