Jamie Dimon claims inflation eroding shopper prosperity could cause recession up coming 12 months

Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., speaks during a Senate Banking, Housing, and City Affairs Committee listening to in Washington, D.C., on Thursday, Sept. 22, 2022.

Al Drago | Bloomberg | Getty Images

JPMorgan Chase CEO Jamie Dimon stated that inflation could idea the U.S. financial system into economic downturn up coming year.

Shoppers are expending down their extra price savings from pandemic stimulus applications, and that will operate out in 2023, he explained on CNBC’s “Squawk Box” Tuesday.

Dimon, 66, has led the New York-primarily based bank given that 2006. Underneath his leadership, JPMorgan grew to become the biggest U.S. lender by belongings as it weathered the 2008 economical crisis, its aftermath and the 2020 coronavirus pandemic.

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