JPMorgan Chase's president says a 'deeper recession' is compromise

President of JP Morgan Chase has said that a ‘deep recession‘ may have to be the price to pay to put ‘back in the box’.

Daniel Pinto, 59, believes that ‘putting inflation back in a box’ is ‘very important’, even if it causes a ‘slightly deeper recession.’

The Wall Street veteran pocketed a $28.5 million salary this year, a rise of 16 per cent from 2021, and is the latest in a line of other executives who say the .

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