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 higher input costs and increased demand for local products.

Economic Growth and Recession Concerns

Dimon highlighted that the introduction of tariffs could slow the pace of economic growth and raise 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" provoked by duties, including their impact on the dollar and global capital flows.

Business Leaders' Growing Skepticism

The concerns were echoed by billionaire hedge fund manager Bill Ackman, who criticized President Donald Trump's tariff policies on social media platform X. Ackman argued that the tariffs would have a "severely negative" effect on the US and its citizens, stating, "This is not what we voted for," reflecting a growing disillusionment among business leaders with the current administration's trade policies.