Jimmy Damon, President of JPMorgan, warns of the commercial risks of stagnation and high prices

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Jimmy Damon, President of JPMorgan Chase, has warned that a global trade war risked rid of the American economy to stagnate and pay higher prices, while undermining the country’s long -term alliances.

In his annual message, reading on a wide range of shareholders published on Monday, Damon said Definitions Last week, US President Donald Trump announced an increase in inflation and causes a greater possibility of stagnation. “

“The more this problem is solved, the better, the better because some negative effects increase in cumulative way and it will be difficult to reverse it.”

Damon He said many uncertainties from planned definitions, including potential revenge on other countries and their impact on business confidence, investment and capital flows.

Damon added: “I hope that after negotiations, a long -term influence will have some positive benefits to the United States.” “The most dangerous occupy is how this will affect the long -term economic alliances.”

Damon’s comments, who led JPMorgan since 2006 and is one of the most influential voices in Wall Street, Anxiety through American companies About the potential economic damage to the Trump tariff.

Damon said that the customs tariff may be inflationary in the United States in the short term, adding: “Whether the list of customs tariffs causes stagnation in a question, but it will slow down.”

Damon said that the American economy has been flexible despite the “worrying scene”, and it seems that companies have looked in good health and consumers are still spending, although he noticed some recent weakness.

Damon, who described himself in a democratic past, but his views in recent years have been spacing from the party, warning of increasing geopolitical risks for more than a year.

In 2024, shareholders warned that Russia’s struggle with Ukraine and violence in the Middle East created risks unparalleled since World War II.

While criticizing the customs tariff plans for the White House, Damon expressed its support for its efforts to secure the country’s borders and said that the Republicans were right to link business, reduce excessive government intervention and “reduce the arrest of jobs.”

Financial markets are still suffering from the comprehensive definitions announced by the Trump administration last week More than 5 Americans It was wiped from American stocks on Thursday and Friday.

United States Acquisitions Conference Decrease On Sunday, after the White House indicated that the fees on imports will remain in place despite the concerns that could stimulate the global recession.