JPMorgan CEO's Inflation Warning

JPMorgan Chase & Co Chief Executive Officer Jamie Dimon issued a stark warning on Monday about the potential inflationary effects of the US administration's sweeping tariffs. In his annual letter to shareholders, Dimon expressed concerns that these policies could not only increase the prices of imported goods but also drive up domestic prices due to rising input costs and heightened demand for local products.

Economic Growth at Risk

Dimon highlighted how the tariffs could slow economic growth and heighten fears of a recession. "In the short run, I see this as one large additional straw on the camel's back," he remarked, pointing to the "many uncertainties" these duties introduce, including their impact on the dollar and global capital flows.

Business Leaders' Growing Concerns

Echoing Dimon's apprehensions, billionaire hedge fund manager Bill Ackman criticized President Donald Trump's tariff policies, suggesting they are eroding confidence among business leaders. Ackman warned of the "severely negative" effects on the US and its citizens, stating emphatically on X, "This is not what we voted for."