JPMorgan Chase CEO Jamie Dimon said on Tuesday he would not rule out a recession in the United States, but he believes the Fed should hold off on cutting interest rates.。

Dimon said at a business summit: "The market currently sees a 70 to 80 percent probability that the U.S. economy will make a soft landing.。I think the probability of a soft landing in the next year or two is only half of that.。The worst case scenario would be stagnant inflation。"

Dimon argues that the neo-crown epidemic has distorted economic indicators and that the data is of little value。He also suggested that the Fed should wait for a clearer picture before considering a rate cut.。

"They can cut interest rates quickly and substantially at any time.。But the Fed's credibility will be challenged in this case.。Dimon said, "The unemployment rate in the United States is quite low right now, and wages are continuing to rise.。"

Dimon stressed that although the U.S. economy is currently in a state of "some degree of prosperity," the risk of recession remains.。

The heavyweight banker's latest statement does not seem to be in line with his recent optimistic outlook for global markets。This is a far cry from what the central bank saw two years ago when it first began to tighten interest rates.。In 2022, Dimon made headlines with a "hurricane is coming" warning。Fed Chairman Colin Powell hinted last week that the Fed was edging closer to confidence enough to start cutting rates。

"We are waiting until we are more confident that inflation can remain stable towards the 2% target.。In response to a question from the Senate Banking Committee last Thursday, Powell said, "When we do get that confidence, and that day is not far away, we should start lowering the tightening force."。"