JPMorgan CEO Expects US Recession In The Next 6-9 Months

Jamie Diamond the CEO of JPMorgan came out this morning saying that the S&P 500 could fall by "another 20% easy" from the current levels, with the next 20% slide likely to "be much more painful than the first", according to CNBC. How is this any help you may ask? It doesn't. A duck can predict the market can down lower as stocks continue to fall to 2-3 year lows as market participants panic sell, get liquidated and margin called out of their position. This was the same guy during a big bank's first-quarter earnings call said that the economy has "strong underlying growth right now" that kept him from predicting a recession in the near future. Also said that growth will continue through the second and third quarters but "after that, it's hard to predict", which was completely wrong because the first and second quarters of 2022 had two consecutive contractions in GDP (Growth). Watch who you follow, there's a reason why Jamie did not want to share these same predictions made today 6-9 months ago when such a CEO of one of the world's biggest banks had many indications of a recession during that time, it's bad business for his customers pulling money away from the bank into safer heavens. I had the same information and predicted one back in December 2021 which I kept reminding investors of my opinion all throughout the first half of 2022.

Sources: CNBC, Yahoo