From CNBC: 2024-10-11 08:55:36

JPMorgan Chase CEO Jamie Dimon warns of growing global risks due to escalating conflicts in Middle East and Russia’s invasion of Ukraine. He emphasizes the unraveling of the post-World War II international order, rising U.S.-China tensions, and threats of “nuclear blackmail” from Iran, North Korea, and Russia. Dimon underscores the need for strong American leadership to address these challenges.

The conflict between Israel and Hamas marks a year since Hamas’ attack, resulting in tens of thousands killed and ongoing fighting on multiple fronts. Israeli airstrikes in Beirut killed 22 people, leading to concerns about potential Israeli retaliation on Iranian oil facilities. The situation remains volatile with no signs of de-escalation.

Despite signs of a soft landing engineered by the Federal Reserve, Dimon remains cautious about the economy’s future. He highlights ongoing concerns such as large fiscal deficits, infrastructure needs, trade restructuring, and global remilitarization. Dimon emphasizes the importance of preparedness and adaptability in the face of prevailing uncertainties in the current environment.

Read more: JPM’s Dimon says geopolitical risks ‘treacherous and getting worse’