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Two big risks threaten a “resilient” U.S. economy, JPMorgan Chase (JPM) CEO Jamie Dimon said ahead of next week's scheduled inauguration of President-elect Donald Trump and the start of his second administration.
In a press release today announcing the bank’s most-recent quarterly results, Dimon noted low unemployment—at 4.1% in December, per the latest government figures—and “healthy” consumer spending to finish the year.
He also looked forward to the coming administration, saying businesses are “more optimistic about the economy, and they are encouraged by expectations for a more progrowth agenda and improved collaboration between government and business.”
But Dimon also cited two “significant risks” in his statement:
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“Ongoing and future spending requirements will likely be inflationary, and therefore, inflation may persist for some time.”
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“Additionally, geopolitical conditions remain the most dangerous and complicated since World War II.”
“We hope for the best but prepare the Firm for a wide range of scenarios,” Dimon said.
Investors, meanwhile, continue to wonder who might someday replace Dimon at the helm of the financial institution. Changes in its executive ranks, announced yesterday, offered fresh clues.
Shares of the bank were up about 1% in morning trading.
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