JP Morgans Dimon on the economy
JPMorgans Jamie Dimon during an interview on CNBC in Europe says:
- There is likely to be a recession in 6-9 months.
- The crack that would tip the scales would likely be in the credit markets
- Markets could become disorderly soon
- Says if you need money, go raise it.
- Could see S&P easily go down another 20% but depends on soft landing/hard landing
- The next move could be more painful
- Negative rates when it all said and done will be viewed as a complete failure.
- Fed should have started to tighten sooner
- Currently the US economy is still doing well
- Companies are still doing well.
- What the problems are include rates going up more than expected. QT is an issue. The war is a big issue.
- We are going to have volatile markets
- The Fed is catching up
US stocks are lower and trading to new session lows.
The S&P traded to 2599.11, that took the price just below the 200 week MA near 2599.50. Move and close below that level this week would be more bearish technically.
The Dow and the Nasdaq are already trading below their 200 week MAs.
- For the Dow, it's 200 week MA is at 29817.69 (trades at 29120.21 currently - down -0.61% on the day).
- The Nasdaq 200 week MA is at 11147.48. The current price is at 10490.68 (down -1.52% on the day) .
/inflation
