Jamie Dimon says Ukraine struggle is the ‘most severe geopolitical factor since WWII’

“That is far more severe than the financial vibrations we now have to take care of on a day-to-day foundation,” he stated.

Dimon stated he learn just lately that wars that proceed previous the one-year mark are more likely to final a decade.

“This can be a main land struggle in Europe in a free and democratic nation” that has seen a whole lot of 1000’s of casualties, Dimon stated. “We don’t know the way that is going to finish … or what path it’s going to take.”

Dimon stated he doubts JPMorgan Chase
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-0.26%
will transfer into Russia any time quickly. It’s attainable a while within the distant future, he stated, however possibly not for many years.

The financial institution does have dealings with China, which is reportedly aiding Russia within the struggle, however he stated that it’s taking a again seat to official U.S. authorities channels.

Dimon made the feedback on the JPMorgan Excessive Yield and Leveraged Finance Convention in Miami.

In January, Dimon gave some candid feedback about one other matter, telling CNBC-TV that bitcoin
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quantities to a “hyped-up fraud” and a “pet rock.”

“Blockchain is a technology-ledger system that we use to maneuver data … we use it to maneuver cash. So that could be a ledger that we expect will likely be deployable,” Dimon stated within the CNBC interview.

He added that it’s no shock that cryptocurrency change FTX collapsed into chapter 11 in November.

JPMorgan’s inventory is up 7.2% to date in 2023, in contrast with a 6% rise by the S&P 500
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+0.39%
and a 1% improve by the Dow Jones Industrial Common
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+0.20%.

Additionally learn: Danger of ‘wrathful Previous Testomony–type’ response from central banks is rising, JPMorgan says