The boss of Wall Street’s biggest bank fears that extreme complacency crept into the market as investors shook off last month’s tariff scare. Wall Street strategists say he might be on to something.

JPMorgan CEO Jamie Dimon isn't sugarcoating ithe's worried. In a candid conversation at the bank's Global China Summit in Shanghai, Dimon said he can't rule out a stagflation scen

JPMorgan Chase CEO Jamie Dimon cautioned about the US tariff policy. He highlighted potential economic damage. Dimon noted rising tariffs and inflated asset prices. He also mentioned tougher borrowing conditions for businesses.

Americans might feel anxious about inflation and tariffs, but according to JPMorgan Chase (JPM) CEO Jamie Dimon, Wall Street hasn’t even begun to worry enough — and that, he says, is a big mistake.

JPMorgan CEO Jamie Dimon warns of potential threats to the stock market, urging investors to consider ETF plays like short-term treasuries, low-beta, and dividend-growth ETFs to protect against volatility and inflation.

JPMorgan CEO Jamie Dimon is warning investors that the U.S. economy still hasn’t fully absorbed the impacts from Donald Trump’s sweeping tariff agenda. At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

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It boasts a market capitalisation of $730bn, or 30% of the total among America’s big banks, up from 12% when Mr Dimon took charge at the start of 2006 (see chart 1). The gap with competitors has grown larger still since the covid-19 pandemic.