Jamie Dimon Warns Of 'Weakening' US Economy, But Doesn't 'Know' Whether Its Nearing Recession: 'Have To Wait And See'

Core Insights - JPMorgan Chase CEO Jamie Dimon has expressed concerns about the U.S. economy, indicating signs of a slowdown following a significant revision in job data by the Labor Department [2][3] Economic Outlook - Dimon stated that the U.S. economy is showing signs of "slowing down," with a revision of nonfarm payrolls data reducing the job count by 911,000 compared to earlier estimates, marking the largest revision in over 20 years [2][6] - The current economic environment features a weakening consumer sentiment despite strong corporate profits, suggesting a mixed economic outlook [4] Federal Reserve Actions - Dimon indicated that the Federal Reserve is likely to cut its benchmark interest rate in the next meeting, although he expressed skepticism about the potential impact of such a move on the economy [5] Labor Market Concerns - The unexpected downward revision in job data has raised alarms regarding the strength of the U.S. labor market, with the Bureau of Labor Statistics revealing an overstatement of job growth by 911,000 for the year through March 2025 [6][7]