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Jamie Dimon Says Tariffs Might Inflict More Pain

  • JPMorgan Chase CEO Jamie Dimon warned on May 19, 2025, that tariffs might cause more economic pain despite initial market calm.
  • The warning follows a 90-day tariff rollback agreement between the US and China intended to allow trade negotiations with about 100 countries.
  • Dimon noted markets show complacency while tariffs challenge small businesses and retail giants, and Moody's downgraded US debt citing growing deficits.
  • Dimon noted that after the market dropped by 10%, it recovered by the same margin, reflecting a surprisingly high level of investor complacency, and he warned that the likelihood of stagflation is about twice as high as commonly expected.
  • Dimon's remarks imply that inflation, earnings declines, and economic stagnation risks are higher than expected, urging caution amid ongoing trade uncertainties.
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grocerydive.com broke the news in on Monday, May 19, 2025.
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