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JPMorgan CEO Dimon Expresses Concern Over Geopolitical Risks

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., during a Bloomberg Television interview in London, UK, on Oct. 8, 2024
Jamie Dimon, chief executive officer of JPMorgan Chase & Co., during a Bloomberg Television 🅺interview in London, UK, on Oct. 8, 2024.

Hollie Adams / Bloomberg via Getty Images

Take Aways

  • JPMorgan Chase CEO Jamie Dimon on Friday expressed worry about the world's geopolitical state, saying that "recent events show that conditions are treacherous and getting worse."
  • Dimon says despite the U.S. economy's resilience and slowing inflation, "several critical issues remain."
  • JPMorgan Chase shares surged Friday after the bank's third-quarter revenue and profit came in above consensus estimates.

澳洲幸运5官方开奖结果体彩网:

JPMorgan Chase (JPM) 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Jamie Dimon expressed concern about the geopolitical state of the world on Friday, saying in a press release announcing the bank's third-quarter earnings that "recent events show that conditions are treacherous and getting worse."

"There is significant human suffering, and the outcome of these situations could have far-reaching effects on both short-term economic outcomes and more importantly on the course of history," Dimon added.

Dimon also said that despite the U.S. economy’s resilience and slowing inflation, "several critical issues remain, including large fiscal deficits, infrastructure needs, restructuring of trade and remilitarization of the world."

'We Must Be Prepared for Any Environment'

"While we hope for the best, these events and the prevailing uncertainty demonstrate why we must be prepared for any environment," Dimon said.

During the bank's earnings call Friday morning, an analyst asked Dimon if some recent statements—including an August Washington Post op-ed—pointed to a potential departure from the bank for government service. In his reply, Dimon pointed to a global mindset to "get things right," according to a transcript provided by AlphaSense.

"It is so important that we get things right for the whole geopolitical world," Dimon said. "I'm not just talking about the American economy, and we try to participate in policy at the local level, at the state level, at the federal level, at the international level to try to help. That's our job. We try to grow economies and things like that."

JPMorgan Chase shares surged 5.5% by midday Friday after the bank's third-quarter revenue and profit came in above consensus estimates of analysts compiled by Visible Alpha.

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