America's Top Banker Issues Dire Warning on Trump's War [View all]

Source: Daily Beast

JPMorgan CEO Jamie Dimon fears the devastating impact of Donald Trump’s Iran war could reshape the global economic order.

The top banker warned in his annual letter to shareholders that the Middle East conflict could further exacerbate the global oil crisis and cause “stickier” inflation and higher interest rates than markets currently expect.

“The skunk at the party—and it could happen in 2026—would be inflation slowly going up, as opposed to slowly going down. This alone could cause interest rates to rise and asset prices to drop,” Dimon wrote.

Trump is becoming more and more desperate as the Iran war drags on with no real end in sight. The conflict—and Iran’s closure of the Strait of Hormuz—has sent oil prices soaring well above $100 a barrel and caused gas prices to soar across the U.S.

Read more: https://finance.yahoo.com/economy/policy/articles/america-top-banker-issues-dire-134456122.html