JPMorgan CEO Jamie Dimon Sounds Alarm on Tariffs

In a stark warning to shareholders and the public, JPMorgan Chase & Co Chief Executive Officer Jamie Dimon highlighted the potential inflationary risks posed by the latest US tariff policies. "The introduction of sweeping tariffs by the US administration is likely to drive consumer prices up, affecting not just imported goods but domestic prices as well," Dimon stated in his annual letter to shareholders.

Impact on Economy and Recession Concerns

Dimon elaborated on the broader economic implications, noting that rising input costs and increased demand for domestic products could slow growth and heighten recession fears. He described the tariffs as adding "one large additional straw on the camel's back," emphasizing the uncertainties they introduce regarding the dollar's strength and global capital flows.

Business Leaders Voice Concerns

Echoing Dimon's concerns, billionaire hedge fund manager Bill Ackman criticized the tariff policies, stating they erode business leaders' confidence in President Donald Trump. Ackman warned of the "severely negative" impact on the US and its citizens, a sentiment he shared in a post on X, lamenting, "This is not what we voted for."