“There is significant human suffering, and the outcome of
these situations could have far-reaching effects on both short-term economic
outcomes and more importantly on the course of history,” Dimon said in the
bank’s third-quarter results release, CNBC reported.
JPMorgan Chase posted earnings showing a 2% loss
in net income from the year before, down to US$12.9 billion.
Revenue was up 6% to US$43.4 billion, the report showed.
CNN reported that Dimon had warned that while
inflation appears to be slowing and the country has avoided
recession, “several critical issues remain, including large fiscal
deficits, infrastructure needs, restructuring of trade and remilitarization of
the world.”
“While inflation is slowing and the US economy remains
resilient, several critical issues remain, including large fiscal deficits,
infrastructure needs, restructuring of trade and remilitarization of the
world,” Dimon said, according to CNBC.
To Dimon’s point, CNBC reported last week that the
Russian government approved a draft budget that upped defense spending by 25%
from 2024.
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