[블록미디어 이제인 기자] “I don’t want to count all the eggs yet.”
JP Morgan CEO Jamie Dimon warned that the US economy would be caught in an unprecedented storm in 2022. Ray Dalio, the founder of Bridgewater, the godfather of hedge funds, said, “A perfect storm is coming.”
The Wall Street Journal (WSJ) reported on the 9th (local time) that Dimon and Dalio, two giants in the financial world, were embarrassed by the wrong economic forecasts.
In 2022, Jamie Dimon and Ray Dalio predicted that high inflation and the Federal Reserve’s delayed interest rate hike would cause an economic recession.
Contrary to their expectations, the US economy continued to grow robustly. The government’s active economic stimulus measures and the resilience of business investment and consumption made this possible. The Federal Reserve’s strong policy of raising interest rates also contributed to preventing economic recession by preventing inflation.
At present, inflation is approaching the Fed’s target of 2%. The unemployment rate remains at the lowest level in the last half century. This is in contrast to the bleak economic scenario predicted by Dalio and Dimon.
In response, Dalio admitted, “I was pessimistic about the economy and made a wrong judgment.” He explained that he had previously overestimated the impact of interest rate rises on private sector demand and asset prices, which he expected would slow the economy, but that did not happen.
Dimon also mentioned in the interview that the economic situation was different from his expectations, saying, “I thought the fiscal stimulus would be gone by now.”
However, Dimon expressed concern about serious problems facing the economy, including inflation remaining high, geopolitical instability, and increasing government spending and debt.
Dimon left room for uncertainty in the future economy, saying, “I’m not going to count my eggs yet.” He expressed concern about the possibility of so-called ‘stagflation’ (an economic situation where low growth rates are accompanied by inflation).
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