Jamie Dimon, President & CEO,Chairman & CEO JPMorgan Chase, talking on CNBC’s Squawk Field on the International Financial Discussion board Annual Assembly in Davos, Switzerland on Jan. seventeenth, 2024. Adam Galici | CNBCJPMorgan Chase CEO Jamie Dimon on Wednesday referred to as the U.S. inventory marketplace inflated and mentioned that he felt extra wary than others within the industry international on account of the dangers from deficit spending, inflation and geopolitical upheaval.”Asset costs are roughly inflated, by way of any measure. They’re within the best 10% or 15%” of historic valuations, Dimon advised CNBC’s Andrew Ross Sorkin on the International Financial Discussion board in Davos, Switzerland.Dimon mentioned that he was once talking in particular in regards to the American inventory marketplace, which is in the course of a multi-year bull run. The S&P 500 had back-to-back annual positive factors of greater than 20% in 2023 and 2024, the primary time that has took place in over 25 years. Closing 12 months, Dimon even referred to as the stocks of his personal corporate dear.However Dimon additionally famous that portions of the bond marketplace, like sovereign debt, are “at all-time highs.””So yeah, they are increased, and you want moderately excellent results to justify the ones costs,” Dimon mentioned. “Having pro-growth methods is helping make that occur, however there are negatives in the market, and they are able to have a tendency to marvel you.”Dimon, 68, is likely one of the most useful voices in finance after he constructed JPMorgan into the most important American financial institution by way of many measures, together with property and marketplace valuation.He has been sounding a be aware of warning since 2022, when he mentioned a “typhoon” was once heading for the U.S. financial system. That hurricane, then again, has but to reach because the U.S. exceeded expectancies in recent times, and the election of Donald Trump in November boosted hopes round what a pro-growth management will do.”I do have a bit of extra warning round a host of topics,” Dimon mentioned Wednesday.”What I am a bit of wary about is the deficit spending; it is a world factor, now not simply an American factor,” he mentioned. “And the similar [question], ‘Will inflation cross away?’ I am not so certain.”The emerging tide of worldwide war, together with the Ukraine struggle, pressure within the Center East and rising threats from China has “simply were given me very involved how it is going to have an effect on our international for the following 100 years,” Dimon mentioned.Within the wide-ranging interview, Dimon voiced reinforce for price lists on imports to the U.S. in the event that they bolster nationwide safety, and mentioned that he and tech entrepreneur Elon Musk have smoothed over a prior to now contentious courting. Dimon additionally mentioned he had no goal to run for workplace in 2028.
