Jamie Dimon says Americans are spending all their money because of inflation—and that could tip the U.S. into a recession next year

(Credit: Ting Shen—Bloomberg/Getty Images)

Jamie Dimon is worried that U.S. consumers could spend away their savings as inflation continues to bite, sending the economy into a recession next year.

The JPMorgan Chase CEO said on Tuesday that consumers still have $1.5 trillion more “in their checking accounts” than they did prior to the pandemic, but warned that that may not last.