JPMorgan’s Dimon says stagflation is possible outcome for US economy, but he hopes for soft landing

By KEN SWEET
AP Business Writer

NEW YORK (AP) — JPMorgan CEO Jamie Dimon says stagflation could be one of a number of possible outcomes for the U.S. economy as the Federal Reserve attempts to tame stubbornly high consumer prices. In an interview with The Associated Press at a Chase branch opening in The Bronx, Dimon said he remained “cautious” about the U.S. economy and said inflation may be stickier for longer and that stagflation is on the list of possible things that could happen to the U.S. economy. Stagflation occurs when the economy is weak, or in recession, yet prices keep moving higher.