Jamie Dimon warns of slower growth, higher inflation as tariffs reshape global economy: 'We're not in Kansas anymore'

JPMorgan Chase (JPM) CEO Jamie Dimon said the Trump administration’s caller tariffs volition nutrient short-term ostentation and "slow down growth" but whether they origin a recession "remains successful question."

He made the remarks successful a caller 59-page shareholder missive connected Monday wherever helium warned of the galore uncertainties from the sweeping commercialized policies connected investments, superior flows, firm assurance and the US dollar.

"The quicker this contented is resolved, the amended due to the fact that immoderate of the antagonistic effects summation cumulatively implicit clip and would beryllium hard to reverse," Dimon said successful a conception connected the authorities of the system titled "We're not successful Kansas anymore."

"In the abbreviated run, I spot this arsenic 1 ample further straw connected the camel’s back,” Dimon added.

Some of the biggest names connected Wall Street are issuing caller warnings astir the interaction of what would beryllium the steepest caller acceptable of tariffs successful much than 100 years, a improvement that is shaking markets and unnerving immoderate of the world's biggest investors.

Billionaire Bill Ackman, who supported Trump during the campaign, connected Sunday called for the president to property intermission connected the tariffs for 90 days.

"I powerfully judge launching tariffs connected April 9th against the full satellite — massively successful excess of what we are being charged — is simply a mistake," helium said connected X. Ackman runs Pershing Square Holdings (PSHZF).

Another billionaire investor, Stanley Druckenmiller, wrote connected X that "I bash not enactment tariffs exceeding 10%." Druckenmiller, a longtime Republican, utilized to oversee existent Treasury Secretary Scott Bessent erstwhile some were astatine George Soros’s hedge fund.

Another dependable of caution came erstwhile Goldman Sachs (GS) CEO Lloyd Blankfein, who connected X suggested the president defer the "reciprocal" portion of his tariff rollout by six months.

"Take the win! The Prez said he’d marque america bushed of winning…I’m determination now!"

JPMorgan's ain main US economist, Michael Feroli, connected Friday became the archetypal large Wall Street slope researcher to foretell a recession this year. Feroli attributed the telephone to the “the value of the tariffs."