JPMorgan Chase CEO Jamie Dimon issued a sobering assessment of the American economy in an interview with CNBC on Tuesday, acknowledging clear signs that it’s growing weaker and expressing uncertainty over its future trajectory. Still, he stopped short of making a recession call, saying that there is such a range of data that it’s hard to parse. “We get data like you wouldn’t believe. The government data is important. Our own data is important.”
Dimon was speaking with CNBC’s Leslie Picker on “Fast Money Halftime Report,” ostensibly about the opening of his bank’s shimmering new headquarters in Manhattan, before the conversation turned to what one of Wall Street’s most influential voices makes of the economy. He said JPMorgan gets data from “non-government sources,” and he cited “delinquency data, worldwide data, trade data. We get all of that.” Still, he added, it’s difficult to figure out what the economy will do next, based on backward-looking data like this, even from such a comprehensive set. He tossed in an aside: “And maybe, one day, AI will fix that problem. But, hopefully, things will be OK.”
