Jamie Dimon Warns Inflation Ticking Up Is 'Not Good' — Praises Trump's 'One Big Beautiful Bill,' Deregulation Push To Stimulate Economic Growth

• Dimon also said that the Trump administration’s stimulus measures are also adding to corporate profits, while adding that they are “huge this year.”
• He added that the government stimulus has contributed to higher inflation, eroding consumers' ability to spend and save.
• Dimon highlighted that while consumers in higher-income segments are faring well enough, those on the lower end are being affected more due to factors such as higher gas prices.

JPMorgan Chase & Co. (JPM) CEO Jamie Dimon on Friday warned that inflation ticking up is “not good” for the U.S. economy.

During an interview with Fox Business on the sidelines of the Reagan National Economic Forum, Dimon praised the Trump administration’s deregulation push and the “One Big Beautiful Bill Act” for stimulating the U.S. economy.

“We have a lot of stimulus. The One Big Beautiful Bill… $300 billion stimulus, the additional AI spend, $300 billion stimulus, dereg (deregulation)... it’s a form of good stimulus because it allows people to put their money to work in a better way,” he said.

JPMorgan’s shares were up nearly 0.1% in Friday’s pre-market trade.

Dimon’s Reading Of US Economy

He also gave his reading of the U.S. economy and how different factors are affecting it.

“It’s pretty good… the economy is growing at 2%, unemployment is low at 4.3%, wages are not going up that much anymore, corporate debt’s not that high, consumer debt is actually not high, inflation is ticking up, that’s not good,” he said.

Dimon also said that the Trump administration’s stimulus measures are also adding to corporate profits, while adding that they are “huge this year.”

Inflation Ticking Up One Of The Negatives, Says Dimon

Dimon noted that inflation ticking up is one of the negatives of the government’s stimulus push. He added that higher inflation has reduced consumers' ability to spend or even save.

He said that while consumers in higher-income segments are faring well enough, those on the lower end are being affected more due to factors such as higher gas prices.

“For them, they have to cut back on something else… some of them have cut savings and they still spend. The bar has gone up a little bit and it might not be sustainable forever,” he said.

Dimon also warned that while he feels the U.S. economy is okay this year, there are concerns across various aspects. He added that he does not know yet how these factors would impact the U.S. economy beyond 2026.

The JPMorgan CEO’s comments come a day after data from the U.S. Department of Commerce showed that personal income decreased by less than $0.1 billion in April, while disposable personal income fell by $19.9 billion. Personal consumption expenditures increased $111.1 billion, while personal outlays increased $114 billion during the month.

Personal savings stood at $611.7 billion in April, while the personal saving rate was 2.6%. Personal savings stood at $857.3 billion in March, while the personal saving rate was 3.6%.

JPM stock is down 8% year-to-date, but up 13% over the past 12 months. The S&P 500 ETF (SPY) is up 29% over the past 12 months, while the Invesco QQQ Trust (QQQ) is up 42%.

Also See: Dell's 'Best Quarter Ever' Is Not Just A One-Time Phenomenon, Say Analysts — Wall Street Hikes Price Target By Up To 200%

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