JPMorgan Chase CEO Jamie Dimon talking with CNBC’s Leslie Picker in Charlotte, N.C. on July thirty first, 2025.
David A. Grogan | CNBC
JPMorgan Chase CEO Jamie Dimon stated {that a} Labor Department report released Tuesday confirmed that the U.S. economy is slowing down.
The division revised decrease its nonfarm payrolls knowledge for the 12 months by means of March 2025 by 911,000 jobs from preliminary estimates. That was on the excessive aspect of Wall Street’s expectations for a downward shift and the greatest revision in additional than 20 years.
“I think the economy is weakening,” Dimon stated. “Whether it’s on the way to recession or just weakening, I don’t know.”
Dimon stated that, as the greatest U.S. financial institution by property, JPMorgan is aware about a spectrum of information round customers, firms and world commerce. Most customers nonetheless have jobs and are spending cash, relying on their revenue ranges, however their confidence might have simply taken a success.
“There’s a lot of different factors in the economy right now,” Dimon stated, citing the weakening shopper and still-robust company revenue. “We just have to wait and see.”
The Federal Reserve will “probably” cut back its benchmark rate of interest at an upcoming assembly, although that may not “be consequential to the economy,” Dimon stated.
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