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JPMorgan CEO Jamie Dimon says Trump tariffs will boost inflation, slow an already weakening U.S. economy (www.cnbc.com)

submitted 2 weeks ago by MicroWave@lemmy.world to c/economics@lemmy.world

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KEY POINTS

JPMorgan Chase CEO Jamie Dimon said tariffs announced by Donald Trump will likely boost prices on both domestic and imported goods, weighing down a U.S. economy that had already been slowing.
He’s the first CEO of a major Wall Street bank to publicly address Trump’s sweeping tariff policy as global markets crash.
“Markets still seem to be pricing assets with the assumption that we will continue to have a fairly soft landing,” Dimon said. “I am not so sure.”

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[–] seeigel@feddit.org 22 points 2 weeks ago (2 children)

The former Greek finance minister says that weakening the dollar is the objective:

https://unherd.com/2025/02/why-trumps-tariffs-are-a-masterplan/

So rising prices are to be expected.

[+] eran_morad@lemmy.world 23 points 2 weeks ago* (last edited 1 week ago) (2 children)

[deleted]

[–] y0din@lemmy.world 3 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

it's called Occam's Razor, put simply, states: “the simplest solution is almost always the best.” It's a problem-solving principle arguing that simplicity is better than complexity.

https://www.interaction-design.org/literature/article/occam-s-razor-the-simplest-solution-is-always-the-best

edit: added link to reference.

[–] krashmo@lemmy.world 3 points 2 weeks ago (1 children)

There's nothing simple about divining the intent of the severely mentally ill so what exactly is your point?

[–] y0din@lemmy.world 2 points 2 weeks ago

just what you said, only pointed out there is a quote/theory that could apply here.

often we overcomplicate instead of seeing the simple explanation. the theorem applies to many cases, not just to solve problems.

I am not saying that the theorem is or isn't correct here, I was just mentioning it as it sort of fits the last couple of sentences in the comment.

I did not mean to say anything about this case in particular, just a comment to the simplest explanation/solution is often the correct one.

I am sorry if this came out confusing or out of context as this was not my intention.

[–] RowRowRowYourBot@sh.itjust.works 1 points 2 weeks ago

Varoufakis is not a dumb man. But he is so myopic.

Which is why his gig as finance minister can be measured in weeks.

[–] ArbitraryValue@sh.itjust.works 3 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

I have a hard time believing this. It's more of the 4D chess that his supporters believed he was playing, but I think the evidence has shown that he isn't pretending to be ignorant and stubborn. If a different sort of President instituted tariffs then this could have been the plan, but if it happens now then it will be happening by coincidence.

(Or is the extremely careless and unreasonable way that the tariff rates were calculated also part of Trump's madman theory? I doubt it.)

[–] seeigel@feddit.org 1 points 2 weeks ago

I think so. If Trump would be mad for real, Wallstreet and the big companies would finance an impeachement.

This is a show for the people so that they don't discuss the additional tax.

[–] Buelldozer 20 points 2 weeks ago (1 children)

Three months ago Jamie Dimon was telling people to "Get over it" in regards to their fears with the Trumpican Tariffs. Fuck this guy.

[–] l_isqof@lemmy.world 3 points 2 weeks ago

Yeah, this Sherlock just discovered that water makes you wet.

[–] ryedaft@sh.itjust.works 1 points 2 weeks ago

Duh, you think?