Dimon Warns Higher Inflation Risks Being ‘Skunk at a Party’

JP Morgan Chase CEO Jamie Dimon warned that higher inflation could be a 'skunk at a party' as the US contends with financial risks, including recent strikes against Iran. Speaking in an interview with Bloomberg's Lisa Abramowicz, Dimon said that, despite risks, he doesn't expect a big inflationary impact from the conflict and that right now the US economy is 'doing fine.'  JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon cautioned that there’s more optimism in the market than there should be given all the risks — such as conflict in the Middle East — that have cropped up. “Right now, the economy is doing fine, asset prices are high,” Dimon said Tuesday in a Bloomberg Television interview at his company’s annual global leveraged-finance conference in Miami. “I think there’s a little more exuberance than there should be, but we’ve had years of it.” His remarks come as tensions in the Middle East escalated after the US and Israel launched missile attacks on Iran over the weekend and killed Supreme Leader Ayatollah Ali Khamenei and other senior officials. Dimon has been warning about geopolitical risk for years, ever since Russia invaded Ukraine in 2022, and has said it dwarfs any other concern throughout his career. Last year, JPMorgan committed to plow $1.5 trillion into industries that bolster US economic security and resiliency over the next decade, with Dimon saying in the announcement that “we need to act now.”  -------- Watch Bloomberg Radio LIVE on YouTube Weekdays 7am-6pm ET WATCH HERE: http://bit.ly/3vTiACF Follow us on X:   / bloombergradio   Subscribe to our Podcasts: Bloomberg Daybreak: http://bit.ly/3DWYoAN Bloomberg Surveillance: http://bit.ly/3OPtReI Bloomberg Intelligence: http://bit.ly/3YrBfOi Balance of Power: http://bit.ly/3OO8eLC Bloomberg Businessweek: http://bit.ly/3IPl60i Listen on Apple CarPlay and Android Auto with the Bloomberg Business app: Apple CarPlay: https://apple.co/486mghI Android Auto: https://bit.ly/49benZy Visit our YouTube channels: Bloomberg Podcasts:    / bloombergpodcasts   Bloomberg Television:    / @markets   Bloomberg Originals:    / bloomberg   Quicktake:    / @bloombergquicktake