As trillions are wiped off global stock markets as a result of US President Donald Trump’s tariffs, the CEO of JP Morgan Chase & Co (JPM) has joined the chorus warning of the levies' potential inflationary impact.
In his annual letter to shareholders, Jamie Dimon said the recent tariffs "will likely increase inflation and are causing many to consider a greater probability of a recession". He said that even with the massive selloff in markets since Thursday (3 April), "prices remain relatively high". "These significant and somewhat unprecedented forces cause us to remain very cautious," he wrote. Since Trump unveiled his ‘reciprocal' regime, JPM Chase's share price has dropped 11.5%, according to data from MarketWatch. "Whatever you think of the legitimate reasons for the newly announ...
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