JPMorgan’s Dimon hopes for soft landing for US economy but says stagflation is a possible scenario

By KEN SWEET
AP Business Writer

NEW YORK (AP) — JPMorgan CEO Jamie Dimon says he’s hopeful the Federal Reserve can bring down inflation without causing a recession but wouldn’t rule out more troubling possibilities, such as stagflation. 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. Dimon also reiterated his support for an independent Federal Reserve.