Jamie Dimon, CEO of JPMorgan Chase, has raised alarms about a possible major decline in U.S. stock markets, suggesting that investors may be underestimating the risks ahead. In a recent interview, Dimon stated that he is “far more concerned than others” about a potential market correction that could occur within the next six months to two years.
Speaking during his visit to Bournemouth, UK, where JPMorgan announced a £350 million investment in its local campus and a £3.5 million donation to community projects, Dimon also reflected on broader economic and geopolitical challenges. He noted that while the UK economy shows signs of innovation and reform under Chancellor Rachel Reeves, global financial stability faces significant risks.
Dimon cited factors such as increased geopolitical tensions, excessive fiscal spending, and global remilitarization as contributors to growing uncertainty. “The level of uncertainty should be higher in most people’s minds than normal,” he cautioned.
The JPMorgan chief also commented on the surge in AI-related investments driving recent stock market growth. He compared the current enthusiasm for AI to the dot-com bubble of the 1990s, emphasizing that while AI will have long-term value, many investors could face heavy losses. “AI is real, and it will pay off overall—but not for everyone,” he warned.
Addressing national security, Dimon reiterated his earlier warning that the U.S. could face severe shortages in defense supplies in the event of a major conflict. “We should be stockpiling bullets, guns, and bombs—the world is becoming more dangerous,” he said.
Dimon further emphasized the importance of maintaining the independence of the Federal Reserve, saying he believes Trump’s administration will not interfere despite past criticisms of Fed Chair Jerome Powell.
On global trade, Dimon revealed optimism about progress toward reducing tariffs on Indian goods, imposed earlier due to India’s trade with Russia. “I’ve spoken to officials who want to move closer to India and are planning to roll back those tariffs,” he said.
While Dimon has long been mentioned as a potential candidate for U.S. Treasury Secretary or even the presidency, he dismissed political ambitions for now. “It’s not on the cards,” he said with a smile, adding, “If you gave me the presidency, I’d take it—I think I’d do a good job.”
