Jamie Dimon rattled the markets last year by comparing the coming recession to a 'hurricane.' Now he says it's just some 'storm clouds'

Jamie Dimon, chairman and chief executive officer of JPMorgan Chase, during a House Financial Services Committee hearing in Washington, D.C., US, on Wednesday, Sept. 21, 2022. (Credit: Al Drago/Bloomberg via Getty Images)

At an annual conference sponsored by AllianceBernstein in late May 2022, JPMorgan Chase CEO Jamie Dimon told a group of investors that he was preparing for the worst and feared that the U.S. economy might experience an economic “hurricane.”

“I said there were storm clouds, big storm clouds. It’s a hurricane,” Dimon said. “Right now it’s kind of sunny, things are doing fine, everyone thinks the Fed can handle it. That hurricane is right out there down the road coming our way. We don’t know if it’s a minor one or Superstorm Sandy. You better brace yourself. JPMorgan is bracing ourselves.”