US to enter a bad recession - JP Morgan's Jamie Dimon

Omkar Godbole FXStreet Contributor

Jamie Dimon, the CEO of JP Morgan, predicts the US will see a severe downturn along with some kind of financial stress similar to the global financial crisis of 2008.

Dimon said that JP Morgan is preparing for a 35% plunge in economic growth and a rise in the jobless rate to 14%.

Dimon made the predictions in his annual letter to shareholders.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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