JPMorgan CEO Jamie Dimon warns of inflation, major economic storm
Synopsis by Reuters Sep 21 22
JPMorgan Chase CEO Jamie Dimon warned policymakers to be prepared for the worst and said he believed the U.S. economy had a ‘small chance’ of soft landing but ...Read full article
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| Last Updated | Sep 21 22 |
| Total Articles | 8 |
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British-American banking executive, Chief Executive Officer of Citi
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Banking C.E.O.s Face a Grilling on Capitol Hill: The chief executives of JPMorgan Chase, Bank of America and Citigroup are among the Wall Street leaders set to ...
nytimes.com/2022/09/21/business/dealbook/bank-ceos-dimon-gorman-senate-house-testimony.html
JPMorgan CEO Jamie Dimon warns of inflation, major economic storm: Dimon will also defend his bank's vital role in financing businesses, infrastructure ...
markets.businessinsider.com/news/stocks/jpmorgan-jamie-dimon-congress-testimony-inflation-fed-rate-hikes-economy-2022-9
U.S. bank CEOs back Fed hikes during congressional grilling on economy, China ties
reuters.com/world/us/us-bank-ceos-set-congressional-grilling-by-democrats-republicans-2022-09-21/
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Banking C.E.O.s Face a Grilling on Capitol Hill: The chief executives of JPMorgan Chase, Bank of America and Citigroup are among the Wall Street leaders set to ...
nytimes.com/2022/09/21/business/dealbook/bank-ceos-dimon-gorman-senate-house-testimony.html
JPMorgan CEO Jamie Dimon warns of inflation, major economic storm: Dimon will also defend his bank's vital role in financing businesses, infrastructure ...
markets.businessinsider.com/news/stocks/jpmorgan-jamie-dimon-congress-testimony-inflation-fed-rate-hikes-economy-2022-9
U.S. bank CEOs back Fed hikes during congressional grilling on economy, China ties
reuters.com/world/us/us-bank-ceos-set-congressional-grilling-by-democrats-republicans-2022-09-21/
Dimon Calls Push to Stop All Oil, Gas Projects Enormously Naïve: Jamie Dimon said US delays of liquefied natural gas projects were done for political reasons to ...
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US deficit poses ‘significant risks’ to global economy, warns IMF: Fund also cites concerns over fiscal ‘imbalances’ in UK, China and Italy
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Quick Glance: IMF Warns of Fiscal Deficits in US and China
- The IMF has warned the US that its massive fiscal deficits have stoked inflation and pose “significant risks” for the global economy.
- Concerns were also raised about Chinese government debt, with the country projected to have a deficit of 7.6 per cent in 2025, more than double the average for other emerging markets.
- In addition to the US and China, the fund named two more countries that “critically need to take policy action to address fundamental imbalances between spending and revenues”.
- The IMF noted that “large and sudden increases” in US borrowing costs typically lead to surges in government bond yields globally and exchange rate turbulence in emerging markets and developing economies.
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Quick Glance: Apple's Response to Chinese Government Directive on App Removal
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- Meta has not yet responded to reports of the removal.
Nearly half of China's major cities are sinking, researchers say: Nearly half of China's major cities are suffering "moderate to severe" levels of subsidence ...
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Online videos show Chinese runner being gifted win in Beijing half-marathon: The winner, He Jia, is a member of China’s marathon team and is a national marathon ...
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- The organizers of the half-marathon are currently examining the results after a video of the finish circulated online, prompting many to question the intention of the three African runners to slow down.
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Jamie Dimon Says 8% Rates Could Lie Ahead: J.P. Morgan CEO Jamie Dimon wrote in a letter to investors that “we are prepared for a very broad range of interest ...
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Paid articlePaidQuick Glance: Jamie Dimon warns of potentially prolonged high rates
- JPMorgan chief Jamie Dimon warns in his annual letter to investors of potentially prolonged higher inflation and interest rates due to high government spending.
- Dimon mentioned that the economy is being fueled by government deficit spending and past stimuli, which could lead to potentially stickier inflation and higher rates.
- Financial markets have significantly reduced their expectations for the number of expected rate cuts by the US Federal Reserve, with only two quarter-point cuts planned in 2024.
- Dimon also warns of the risks of the private credit market boom and emphasizes that regulations may increasingly focus on this market, warning of geopolitical risks due to events like Russia's invasion of Ukraine.
IMF Warns Surge in U.S., China Debt Could Have ‘Profound’ Impact on Global Economy
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Australia increases defence spending by $32bn in response to China build-up: Labor government commits to spending rises to pay for Aukus and long-range missile ...
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Million-Dollar Jobs for Star Analysts at Risk in China Research Pullback: Brokerage analysts in China are confronting a harsh new reality.
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China coastguard blocks Philippines vessels as maritime tension grows: Incident just days after Washington reiterated its security ties to Manila
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Quick Glance: Joe Biden Calls for Significant Increase in Tariffs on Chinese Steel
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- During a meeting with United Steelworkers union members in Pittsburgh, Biden calls on trade representative Katherine Tai to raise the tariffs from the current average of 7.5 percent.
- The main focus of the measures is to combat China's new export surge and the ongoing price pressure that makes it difficult for American steel companies to compete.
- The Biden administration's decision to increase tariffs is expected to impact recent efforts by Washington and Beijing to stabilize relations.
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Quick Glance: China's Economy Surprisingly Strong in Q1 2024
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- In the initial quarter, industrial production saw a 6.1% increase compared to the previous year, driven by the flourishing high-tech industry. Notably, the manufacturing of 3D printing devices, electric vehicle charging stations, and electronic components surged by approximately 40% year-over-year.
- A recent official report highlighted a rise in China's manufacturing purchasing managers' index during the first quarter, marking the first increase in six months. Moreover, the Caixin/S&P Manufacturing PMI, a privately conducted survey, achieved its highest level in over a year as foreign demand grew.
- China's economy grew by 5.2% in 2023. Despite a significant improvement from the previous year, it still represented one of the country's weakest economic performances in more than thirty years.
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Japan’s China Reckoning: Why Tokyo Must Strengthen Its Ties to Democratic Allies: Why Tokyo must strengthen its ties to democratic allies.
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- The missile and drone strikes resulted in minimal damage, with Israel and allies successfully intercepting most projectiles.
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The West says China makes too much. Its workers disagree: Migrants are caught in China's manufacturing battles with the West, as Beijing tries to save its ...
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Apple might start making iPhones in Indonesia, CEO Tim Cook says: Apple's chief executive met with Indonesia's president as the company continues a manufacturing ...
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China exports decline by 7.5%, far more than forecast: BEIJING -- China's exports in March decelerated sharply after four months of growth ...
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Jamie Dimon made $183 million selling JPMorgan stock. Here's how much others have made
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Chinese spies target Dutch industries to strengthen military, intelligence agency says
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Philippines says it won't give US access to more local military bases: The Philippine president says his administration has no plan to give the U.S ...
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- The Biden administration is strengthening alliances in the region to counter China, aligning with Philippine efforts to enhance external defense.
- Marcos emphasizes that the presence of US troops is in response to China's aggressive actions in the South China Sea.
- China accuses the Philippines of providing the US with bases that could undermine its security.
Jamie Dimon’s inflation worries look prescient. Now what?: Perhaps it could be not just ‘higher for longer’ but ‘higher forever’
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“They are cheating”: US President Biden wants to increase tariffs on Chinese steel
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China economy grows faster than expected in first quarter: Official figures also highlighted the challenges faced by the country's crisis-hit property sector.
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Quick Glance: US imposes new sanctions on Iran's drone program
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- The sanctions target executives of an engine manufacturer supplying Iran’s Shahad-131 drones, companies servicing the engines, and individuals providing the drones to Iranian proxy forces in the Middle East.
- Coordinated with European allies, the new sanctions aim to disrupt Iran's missile and drone program and isolate the country globally.
- President Joe Biden emphasized the US commitment to holding Iran accountable, utilizing economic tools to counter Iran's activities, as stated by Treasury Secretary Janet Yellen.
China-Taiwan conflict: Taiwan's government district recreated in China's desert: China regularly threatens to invade the island state of Taiwan ...
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Malaysia Economic Growth Accelerates, Signaling Recovery in 2024: Malaysia’s economy quickened by the most in a year, signaling that firmer recovery is underway ...
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China’s better economic growth hides reasons to worry: The country’s leaders are too complacent about deflation
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US vows ‘ironclad’ defence of Philippines military in South China Sea: Support from Washington reflects mounting alarm at Beijing’s assertiveness in Indo-Pacific
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Lula Reunites With Billionaire JBS Brothers as Brazil’s China Ties Deepen: The billionaire Batista brothers’ stunning comeback is thrusting them into Brazil’s ...
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US and China defence ministers in first significant contact since 2022: Pentagon says Lloyd Austin stressed importance of freedom of navigation in call with Dong ...
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Janet Yellen says US taken ‘major steps’ to stabilise ties with China: Treasury secretary says relations on ‘stronger footing’ after six-day visit
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Quick Glance: China and U.S. to Engage in Intensive Talks on Economic Balance
- US Treasury Secretary Janet Yellen announced intensive talks with China to address America's competitive disadvantages.
- Both sides will engage in intensive discussions on balanced economic growth and initiate exchanges on combating money laundering.
- Yellen emphasized the importance of addressing American concerns regarding overcapacity in Chinese production.
- The meetings will be held under existing economic and financial working group frameworks to address balanced growth and money laundering.
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And Scholz smiles painfully: The chancellor in China: three bitter insights: It's good that Chancellor Olaf Scholz traveled to China. Unfortunately ...
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Quick Glance: Scholz Organizes Crisis Diplomacy in China
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- China trip focusing on economy and geopolitical role, despite dilemma in relations.
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- The ADB predicts regional inflation to decrease to 3.0% by 2025.
- Detailed GDP growth and inflation forecasts for various Asian countries were also provided.
Trump megadonor John Paulson warns against ‘decoupling’ from China: Hedge fund billionaire is considered possible pick for Treasury secretary
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Jamie Dimon says don't be surprised if the economy hits a wall: “We don’t really know what’s going to happen,” the JPMorgan Chase CEO said after his bank ...
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China Leads Global Coal Power Surge With New Plants, Capacity at Record: Global coal-power capacity rose to a record last year, led by a surge in new plants in ...
bloomberg.com/news/articles/2024-04-10/china-leads-global-coal-power-surge-as-capacity-climbs-to-record
Paid articlePaid High risk of animal-to-human diseases developing in some China fur farms, animal protection group says
reuters.com/world/china/high-risk-animal-to-human-diseases-developing-some-china-fur-farms-animal-2024-04-15/
China is a tale of at least two economies: An optimist will look at China’s latest GDP figures released on Wednesday and argue they signal that the best of times ...
reut.rs/4aMeiw2
No Substitute for Victory: America’s Competition With China Must Be Won, Not Managed
foreignaffairs.com/united-states/no-substitute-victory-pottinger-gallagher
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