Trump Tariff War: JPMorgan CEO Jamie Dimon Says US Recession Is A Likely Outcome

JPMorgan Chase & Co. CEO Jamie Dimon reportedly said on Wednesday that he believes a recession is now a likely outcome for the U.S. economy.

"I am going to defer to my economists at this point, but I think probably that's a likely outcome,” Dimon told Fox Business in an exclusive interview.

Dimon expressed confidence in Treasury Secretary Scott Bessent but also observed that the tariffs were beyond people’s expectations.

"That will cause a little inflation, slow down growth, but I hope what they really do is let Scott Bessent, who I think is a professional, negotiate. I know Japan's here, I gather Korea, Vietnam have called, and then eventually Europe… Get those things done quickly," Dimon said, according to Fox Business.

Dimon’s take aligns with the majority of Stocktwits users. According to an ongoing poll that received over 3,000 responses, 71% of the surveyed respondents believe the U.S. economy will fall into a recession this year.

One user argued against the popular notion, saying the U.S. will not fall into a recession.

Another, however, pointed out that slower retail spending is a sign of bad times to come.

Dimon also took note of Delta Airlines’ earnings, which were released earlier in the day. "I think today I saw Delta remove their guidance, and things like that will affect stock prices again. So, it's not over yet," Dimon said.

"And then you've seen tremendous moves in swap prices, asset prices, Treasury prices.”

Meanwhile, Walmart Inc. (WMT) reiterated its first-quarter sales guidance on Wednesday while keeping its annual sales and operating income growth outlook unchanged during the ongoing tariff wars.

The company, however, said the range of outcomes for its Q1 operating income growth has widened.

Meanwhile, benchmark U.S. indices traded mixed on Wednesday.

The SPDR S&P 500 ETF Trust (SPY), which tracks the S&P 500 index, traded 0.22% lower at the time of writing.

The Invesco QQQ Trust, Series 1 (QQQ), which tracks the Nasdaq 100 index, traded 0.44% higher.

Also See: Crude Oil Dragged To 4-Year Lows As Trump Tariff War With China Sparks Recession Fears

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