JPMorgan CEO Raises Alarm Over Tariff-Induced Inflation

In a stark warning to shareholders, JPMorgan Chase & Co CEO Jamie Dimon highlighted the potential for sweeping US tariffs to drive up consumer prices. "We are likely to see inflationary outcomes, not only on imported goods but on domestic prices, as input costs rise and demand increases on domestic products," Dimon stated.

Tariffs: A Threat to Economic Growth

Dimon's letter underscored how these policies could slow growth and heighten recession risks. He pointed out the uncertainties tariffs introduce, including their impact on the dollar and global capital flows, remarking, "In the short run, I see this as one large additional straw on the camel's back."

Business Leaders Express Doubts

Echoing 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" effects on the US and its citizens, declaring, "This is not what we voted for," in a social media post.