JPMorgan Chase CEO Jamie Dimon has expressed concerns about the U.S. economy as it faces a critical stretch, citing potential positives of tax reform and deregulation, but also warning about the negatives of tariffs and trade wars. Dimon expects tariffs to increase inflation by 0.5% this year but remains confident in the Trump administration’s willingness to negotiate trade agreements with other countries.
Dimon’s comments come as the White House recently paused most country-based tariffs for 90 days, following pressure from CEOs and Wall Street investors who disapprove of the trade measures. Billionaire hedge fund manager Bill Ackman also denounced the tariffs, stating that they are destroying confidence in the U.S. as a trading partner and a place to do business.
Additionally, JPMorgan Chase reported first-quarter earnings that beat Wall Street expectations, with strong performance from the markets division lifting the bank. Despite the positive results, Dimon acknowledged the potential negative impact of trade tensions on both the bank and the broader economy.
JPMorgan’s earnings per share rose to $5.07, exceeding profit projections, while total managed revenue also increased. The trading desk saw success in the first quarter of 2025, benefiting from market volatility. Overall, Dimon’s comments highlight the uncertainties faced by the economy due to ongoing geopolitical and economic factors.
