Jimmy Damon, President of JPMorgan, warns of “great turmoil” in the American economy

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Jimmy Damon, CEO of JPMorgan Chase, warned that the American economy is facing “great turmoil” as Stopye the market strengthened Wall Street trade in the beginning of 2025.

Damon stood up with economists in his bank that the recession was 50/50. US President Donald Trump was martyred earlier this week the opinions of JPMorgan President that it affects his thinking about the definitions.

“The economy faces a major turmoil (including political geography), with potential positives of tax reform, abolishing regulatory restrictions, potential negatives of definitions,” commercial wars “, continuous sticky inflation, high financial deficit, and somewhat high asset prices,” said Damon.

Damon On Friday, the profit estimates for the American Zulia companies will decrease and that many administration teams will withdraw their financial guidelines in the profits of the next first quarter in the coming weeks. Jpmorgan is among the major American companies that reported their quarterly numbers.

He said that the issues about China, which faces a tariff of 145 percent, was “a big change that we have never seen in our lives.”

Dimon was speaking after JPMorgan, the largest American lender, rose on Friday that a net income in the first quarter rose by 9 percent of the previous year to $ 14.6 billion, which exceeds 13.6 billion dollars.

Despite Damon’s warnings of volatility JpmorganTrade in the first quarter.

The trading of stocks was the prominent unit in JPMorgan, as revenues increased by 48 percent from the previous year to $ 3.8 billion, which is much higher than the analysts and the best quarterly quarterly expected. This was for the circulation before Trump’s “Liberation Day” announced the tariffs on April 2, which unleashed the most extreme fluctuations.

His opponent, Morgan Stanley, echoed the performance of strong trading, as trading revenues in shares increased by 45 percent to $ 4.1 billion in the first quarter.

JPMorgan’s fixed income trading also increased by 8 percent at $ 5.8 billion. Investment fees for investment increased by 12 percent on an annual basis to $ 2.2 billion, which is a more modest increase than the high adolescence that I expected in mid -February, as the same vessels in the market that strengthened trading created the cold to conclude deals and new stock lists.

“In light of market conditions, we adopt a cautious position on investment banking expectations,” said Jeremy Barnum, President of JPMorgan Finance.

“While the customer’s participation and dialogue is very high, both the conversion of the current pipeline and the creation of a new activity will require a decrease in the current levels of uncertainty.”

This was Cagier’s view of Morgan Stanley, which TED Pick CEO said that the dynamic was one of the “stoppage for deletion”.

“This is why we continue to move forward with this issue, and we will be in an investment banking cycle,” said Beck.

He admitted that, after three or four months from now, the fluctuation of the market and uncertainty in politics is greater, as this may mean that more deals are “more than one kind of deletion, one day.”

JPMorgan shares increased by about 3 percent in New York trading, while Morgan Stanley had decreased slightly.