Squawk Pod Reports from Davos: JPMorgan’s Jamie Dimon 01/20/23

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 20 January 2023

⏱️ 22 minutes

🔗️ Recording | iTunes | RSS

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Summary

In a special episode of Squawk Pod, Joe Kernen, Becky Quick, and Andrew Ross Sorkin are at the World Economic Forum in Davos, Switzerland, where they’re speaking with JPMorgan CEO Jamie Dimon. Dimon explains why he’s going back on his May 2022 warning of a “hurricane” heading for U.S. markets. In an extended interview in the Alps, Dimon discusses the Fed’s path forward, his own recessionary outlook, the “waste of time” that are bitcoin discussions, and the biggest risks to the global economy. In this episode: Becky Quick @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Cameron Costa, @CameronCostaNY

Transcript

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0:00.0	The real issue for the world is Russia, war, Ukraine, energy, trade, and that is serious.
0:10.7	And that's still out there.
0:11.8	Hopefully, it all mitigate and go go away but it may not so you
0:14.3	know as a risk manager you kind of prepare for some of that.
0:17.3	J.P. Morgan CEO Jamie Diamond at the World Economic Forum in Davos, Switzerland,
0:23.3	talking inflation, recession, and the Fed
0:26.7	with the rest of the world's leaders
0:28.6	and our own squawk leaders.
0:31.4	I actually think rates will probably go higher than 5%.
0:33.7	Higher than 5%. That's my own view because I think there's a lot of underlying inflation
0:37.8	which won't go away so quick. What keeps him up at night and what really doesn't?
0:43.4	The way we run the company is to serve clients day in and day out through thick or thin.
0:48.1	I know there are going to be recessions, up downs and downs.
0:50.5	I really don't spend that much time worrying about it.
0:52.8	But the bank CEO does stand firm on some things.
0:56.8	We should never question the credit worth it
0:59.7	the United States government. That is sacrosanct that should never happen. I'm
1:02.8	Cebeckester. Squawkpad reports from Davos, JP Morgan, CEO Jamie Diamond
1:09.8	begins right now. The World Economic Forum in Davos, Switzerland is jam-packed with the world economic forum in Davos, Switzerland is jam-packed with the world's most influential
1:25.6	thinkers and decision-makers. Government officials from China, from Ukraine, civilian cultural
1:31.0	leaders like philanthropic musicians and chefs and of course
1:34.8	executives from the world's biggest companies. One such exact, J.P. Morgan CEO
	...

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