The amount of time Jamie Dimon, the CEO of JPMorgan Chase & Co, provides the US and global economies before they enter a recession is six to nine months. How can we disbelieve what the CEO of one of the largest banking organizations in the world says? Additionally, recessionary warnings have been issued by the World Bank, International Monetary Fund (IMF), Goldman Sachs, and Morgan Stanley.

Why does this story matter?

The worries about a coming recession in 2019 might not be so unfounded after all. The CEO of JPMorgan has added his name to a growing group of powerful bankers who predict economic turmoil.

Economic stress is already causing havoc across Europe. The US and the rest of the globe might soon follow suit.

An economy that is recovering from the COVID-19 pandemic cannot afford a recession the following year.

Recession in Europe might affect the US economy: Dimon

Dimon discussed “severe” headwinds that might cause the US and the global economy to enter a recession in an interview with CNBC. I mean, Europe is already in a recession, and they’re probably going to drive the US into some sort of recession six to nine months from now, he continued. It was obvious from his statements that he believed the recession to be a foregone conclusion.

Inflation, interest rate, war, etc. could be the reasons

Dimon’s forecast is supported by several indices and international problems. The Federal Reserve’s decision to halt quantitative easing, the Russia-Ukraine war, rising interest rates, and other variables, he said, will have an impact on the economy. Dimon has already discussed a possible looming recession. He urged investors to prepare for an economic “storm” earlier this year.

Dimon suspects the credit market to be the first victim

The warning from Dimon doesn’t stop there. Even some victims who are anticipated to suffer the most from the recession’s early effects were mentioned. He predicts that the credit markets will start to panic first. “It might be something you don’t suspect,” he continued, “it might be ETFs, it might be a country.” The S&P 500 would keep falling, he added.

If I was out there I’d be very cautious: Dimon

Dimon added some guidance after he made his prediction. “I think you might forecast this time that it probably will happen,” he said, referencing other unexpected economic catastrophes. He urged individuals to exercise caution and start raising money immediately if necessary.