Jamie Dimon says inflation could tip the US into a recession next year

Jamie Dimon, the longtime CEO of JPMorgan, continued to sound the alarm about the immediate forecast for the , warning that may soon wipe out consumer wealth and send the country into a recession.

During a conversation on CNBC's Squawk Box Tuesday, Dimon said that ongoing heightened inflation levels are 'eroding' the $1.5trillion in savings Americans amassed during the COVID pandemic.

'That trillion and a half dollars will run out sometime midyear next year,' he said. 'When you're looking out forward, those things may very well derail the economy and cause a mild or hard recession that people worry about.'

Load More