JPMorgan Chase CEO Jamie Dimon has dealt a blow to Democrat President Joe Biden by predicting that America will be gripped in a recession during the 2024 election.
Should Biden run in a head-to-head rematch against President Donald Trump, the embattled incumbent would be doomed.
Dimon said: “You can’t talk about the economy without talking about stuff in the future — and this is serious stuff.
“These are very, very serious things which I think are likely to push the U.S. and the world — I mean, Europe is already in recession — and they’re likely to put the U.S. in some kind of recession six to nine months from now.
“It can go from very mild to quite hard and a lot will be reliant on what happens with this war.
“So, I think to guess is hard, be prepared.
“JPMorgan is bracing ourselves and we’re going to be very conservative with our balance sheet,” he said.
BASED Jamie Dimon reemerges, drops uncomfortable truth bombs: "We're getting energy completely wrong."
Dimon argues the "green" energy fantasy has made the climate WORSE. We have it "completely backwards." pic.twitter.com/La37VTA7CT
— Jason Howerton (@jason_howerton) October 11, 2022
Meanwhile, during a new CNN interview that aired Tuesday night, Biden tried to downplay the grim economic forecasts.
“I don’t think there will be a recession,” Biden claimed.
“If there is, there will be a slight recession.
“That is, we’ll move down slightly.
“We are in a better position than any other major country in the world economically.
“Name a president in recent history that has gotten as much done as I have in the first two years. Not a joke.
“You may not like what I’ve got done but the vast majority of the American people like what I’ve gotten done.”
Biden: “I don’t think there will be a recession. If there is, there will be a slight recession. That is, we’ll move down slightly… We are in a better position than any other major country in the world economically.” pic.twitter.com/uETNMKb20W
— Greg Price (@greg_price11) October 12, 2022
Biden: “Name a president in recent history that has gotten as much done as I have in the first two years. Not a joke. You may not like what I’ve got done but the vast majority of the American people like what I’ve gotten done.” pic.twitter.com/8AQdyFVdfv
— Greg Price (@greg_price11) October 12, 2022
