Jamie Dimon: Wall Street Is WRONG About The Economy

"Jamie Diamond lays the foundation for his letter to shareholders by laying out three things that number one our economy is resilient today because number two it's fueled by deficit spending in the government and past stimulus that is still in our economy today and number three this is going to lead to stickier inflation and higher than expected interest rates and that's exactly what we've been seeing happen right now"

"inflation coming in hotter than expected which means that the Federal Reserve Bank is less likely to cut interest rates as soon as many people would have hoped"

"we've never really experienced the impact of this scale of quantitative tightening and he says that we are going to have impacts of this quantitative tightening but we haven't really felt that yet"

"Jamie Diamond says that he thinks the probability of us being able to reduce inflation and not because of recession are a lot lower than that or in simple terms Jamie Diamond says that a lot of people are underestimating the probability of a recession in the United States"

"there seems to be a large number of persistent inflationary pressures which may likely continue"

"the Social Security fund in the United States is running out of money and they have come out and said that if changes are not made by 2034 they will have to start cutting their payments"