JPMorgan CEO Jamie Dimon: think the economy is weakening - CNBC interview

JPMorgan CEO Jamie Dimon: think the economy is weakening - CNBC interview

In a recent interview with CNBC, JPMorgan Chase CEO Jamie Dimon expressed concerns about the economic outlook, suggesting that the economy is weakening. Dimon, who has been critical of the Trump administration's trade policies in the past, acknowledged that the tariffs have been more moderate and thoughtful than initially expected.

Dimon stated, "We started tariffs. We didn’t know what they’re going to be. And now we kind of know. And they’re more moderate and thoughtful and, you know, more carefully done." He further noted that while the tariffs may drive higher inflation, the focus should be on stimulating growth.

The CEO also mentioned that the tariffs have been greatly moderated and that the 15 percent baseline tax in most trade agreements is more manageable than initially anticipated. He added that the tariffs could potentially incentivize companies to manufacture in the U.S., among other business ventures.

Dimon's comments come as the U.S. economy is showing signs of slowing down, with various indicators pointing towards a potential recession. Earlier this year, Mark Zandi, chief economist at Moody's, warned of a recession risk . The economic slowdown is being attributed to factors such as rising interest rates, supply chain disruptions, and geopolitical tensions.

Dimon's statements highlight the ongoing debate about the economic impact of the Trump administration's trade policies. While some argue that the tariffs have had a negative impact on the economy, others, including Dimon, believe that the moderated tariffs could have a more positive effect in the long run.

The interview also comes at a time when the U.S. is experiencing ongoing trade tensions with the UK over tariffs and drug pricing. The visit of U.S. executives, including Nvidia CEO Jensen Huang, to the UK next week is expected to highlight corporate investment opportunities and deepen collaboration in various sectors, including nuclear energy and artificial intelligence .

Meanwhile, the financial sector is also showing signs of resilience. JPMorgan has raised its price target on ING (NYSE:ING) to EUR25.00 from EUR22.60, citing the Dutch bank's strong performance and attractive capital return . The company's second-quarter 2025 earnings report surpassed market expectations, with earnings per share (EPS) reaching $0.64 and revenue outperforming predictions at $6.53 billion.

Dimon's comments and the recent economic indicators suggest that the U.S. economy is facing significant challenges. As the economic outlook remains uncertain, investors and financial professionals are closely monitoring the situation and preparing for potential market fluctuations.

References:
https://www.facebook.com/groups/2249379751953938/posts/5121541228071095/
https://www.quiverquant.com/news/Nvidia+CEO+Jensen+Huang+to+Join+Trump%E2%80%99s+UK+State+Visit+Alongside+Top+U.S.+Executives
https://ng.investing.com/news/analyst-ratings/ing-stock-price-target-raised-to-eur2500-from-eur2260-at-jpmorgan-93CH-2097270