Dimon: US Economy Soft Landing at Risk
Jamie Dimon Warns of potential U.S. Economic Deterioration
Updated June 12, 2025
JPMorgan Chase CEO Jamie dimon recently cautioned that the U.S. economy could soon face deteriorating conditions, possibly undermining hopes for a soft landing. Speaking at a Morgan Stanley conference, dimon suggested current economic surveys might not accurately reflect upcoming challenges.
Dimon anticipates that “real numbers will deteriorate soon,” adding that neither consumers nor businesses typically foresee economic inflection points. He predicts a weakening soft landing, with slight increases in both unemployment and inflation. Diminished immigration, according to Dimon, could further strain the labor market and negatively impact the economy.
Dimon also voiced concerns regarding private credit markets, notably if a recession occurs. He noted that banks face different risks than investors in this sector, making private credit less appealing under current conditions. “I wouldn’t be buying credit today at these prices and these spreads,” Dimon stated.
“I think there’s a chance real numbers will deteriorate soon,” Dimon said Tuesday at a Morgan Stanley conference.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO. | 268.22 | -0.45 | -0.17% |
Dimon has repeatedly warned about potential economic headwinds in recent months. Earlier this year, he suggested a recession was a “likely outcome.” More recently, he acknowledged that while a recession remains possible, its potential severity and duration are uncertain.
Dimon previously noted that uncertainty surrounding tariffs had prompted some clients to delay investments. He supported the tariff pause for negotiations, emphasizing the importance of constructive dialog between the involved parties. JPMorgan economists had lowered their recession probability forecast following a temporary tariff truce.
What’s next
Looking ahead, economists will be closely monitoring key economic indicators, including employment figures and inflation rates, to assess the validity of Dimon’s concerns and the overall health of the U.S. economy. The private credit market will also be under scrutiny.