Jamie Dimon, chairman and chief executive of JP Morgan Chase, described the challenges facing the US economy as akin to a “hurricane” down the road and urged the Federal Reserve to take forceful measures to avoid tipping the world’s biggest economy into a recession.
Mr Dimon’s comments come a day after US President Joe Biden met Federal Reserve Chairman Jerome Powell to discuss inflation, which is hovering at 40-year highs.
“It is a hurricane" and the current situation is unprecedented, Mr Dimon told a banking conference.
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