JPMorgan Dimon: There is extraordinary complacency in the market, seriously underestimating the risk of inflation and stagflation

JPMorgan Chase CEO Jamie Dimon warned against complacency in the face of a range of risks, including inflation, credit spreads and geopolitics. Dimon said the potential for higher inflation and stagflation is greater than people think, cautioned that asset prices in the United States remain high, and said credit spreads do not take into account the impact of a potential economic downturn.
Even after Moody's Ratings stripped the United States of its last top credit rating on Friday, the S & P 500 erased its initial decline on Monday as traders appeared to look beyond the downgrade. "People are feeling good because they haven't seen the impact of the tariffs," Dimon said. "The market went down 10 percent and now it's up another 10 percent; I think that's extraordinary complacency." (Kim Ten)