JPMorgan CEO Jamie Dimon Warns 'Huge Deficits,' 'Complacent Central Banks' Could Lead To Stagflation

JPMorgan Chase CEO Jamie Dimon issued a stark warning at the bank's annual investor day, according to CNBC. He stated that markets display "extraordinary" complacency amid growing threats from tariffs, deficits, and geopolitical instability. Dimon said the likelihood of stagflation is "roughly double" what investors assume, and predicted that S&P 500 earnings growth could drop to zero within six months. He criticized central banks as overconfident and highlighted U.S. fiscal issues following Moody’s downgrade. JPMorgan reaffirmed its 2025 guidance, forecasting $90 billion in net interest income, though investment banking fees are expected to decline in the second quarter. Dimon also reiterated plans to step down as CEO in the coming years.