The CEO of the nation's largest bank said economic risks remain significant.
-- the economy has performed well by just any measure but the chief executive of the nation's largest bank is worried the U.S. still remains on the brink of a downturn.on Monday, warning that high inflation may prove more stubborn than expected, triggering rate hikes at the Federal Reserve and an eventual recession.and waded into an ongoing controversy over diversity, equity and inclusion.
Other trends keeping inflation higher, he added: ascendant military conflict and the loans required for the transition to a climate-friendly economy. "While we do not know the full effect or the precise rate at which AI will change our business -- or how it will affect society at large -- we are completely convinced the consequences will be extraordinary and possibly as transformational as some of the major technological inventions of the past several hundred years: Think the printing press, the steam engine, electricity, computing and the Internet, among others," Dimon said.
In a section of the letter, Dimon advocated for the importance of DEI, outlining several initiatives at the bank aimed at supporting employees and customers who belong to marginalized groups.
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