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 Division report launched Tuesday confirmed that the U.S. economic system is slowing down.
The division revised decrease its nonfarm payrolls knowledge for the yr by way of March 2025 by 911,000 jobs from preliminary estimates. That was on the excessive aspect of Wall Road’s expectations for a downward shift and the largest revision in additional than 20 years.
“I believe the economic system is weakening,” Dimon stated. “Whether or not it is on the way in which to recession or simply weakening, I do not know.”
Dimon stated that, as the largest U.S. financial institution by property, JPMorgan is aware about a spectrum of knowledge round shoppers, companies and world commerce.
“There’s quite a lot of various factors within the economic system proper now,” Dimon stated, citing a weakening client and still-robust company revenue. “We simply have to attend and see.”
The Federal Reserve will “most likely” scale back its benchmark rate of interest at an upcoming assembly, although that may not “be consequential to the economic system,” Dimon stated.
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