by David Hollerith
Yahoo! Finance, Canada
JPMorgan Chase (JPM) CEO Jamie Dimon said in a new shareholder letter Monday that he is worried about a number of risks to a resilient US economy that could “lead to stickier inflation and higher rates than markets expect.”
He cited large amounts of government spending and efforts by the Federal Reserve to shrink its balance sheet as well as the ongoing wars in the Middle East and Ukraine and their potential to disrupt essential commodities markets, migration, and geopolitical relationships.
“These significant and somewhat unprecedented forces cause us to remain cautious,” he added, noting that the bank is prepared for interest rates “from 2% to 8% or even more.”