The outlook for the US economy is cloudy, and a superstorm could be on the horizon. Jamie Dimon, the CEO of JPMorgan, warned about turbulence ahead and stated that market players such as banks should brace for impact. “You know, I said there’s storm clouds but I’m going to change it… it’s a hurricane,” Dimon said, referring to the looming threat of recession. “You’d better brace yourself. JPMorgan is bracing ourselves and we’re going to be very conservative with our balance sheet,” JPMorgan’s CEO added.
