The United States faces "a bad recession," combined with the kind of financial stress not seen since the global financial crisis of 2008, JPMorgan Chase CEO Jamie Dimon warns. "The world is confronting one of the greatest health threats of a generation, one that profoundly impacts the global economy and all of its citizens," he wrote in his widely read annual letter to shareholders . "As a nation, we were clearly not equipped for this global pandemic, and the consequences have been devastating," Dimon wrote. "But it is forcing us to work together, and it is improving civility and reminding us that we all live on one planet." He applauded the speed with which the federal government and the world's central banks, including the Federal Reserve, have tried...
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Jamie Dimon Warns 'A Bad Recession' Is Coming