Jamie Dimon, CEO of JPMorgan Chase, warned that the forthcoming credit downturn will be more severe than current market expectations.
He made the remarks at the NBIM Investment Conference on Tuesday, highlighting heightened concerns for global credit markets.
Dimon also warned that Europe is “slow walking into a real problem,” urging Western unity to prevent further economic deterioration.
He said it is in America’s interest to help Europe avoid a deeper crisis, emphasizing geopolitical stability.