JPMorgan chief Jamie Dimon gave another dire warning about the Ukraine war’s potential long-term impact on the global economy on Wednesday.
on Wednesday – cautioning that an escalation in the brutal Russian invasion is a potential “disaster” that could cause an economic slowdown.
“Basically, the Cold War is back,” Dimon said during an interview with Bloomberg. “I think the whole world learned something that we always knew – that national security is always the most important thing, but it kind of recedes in the background when we’re all doing well.” The bank boss called on the Biden administration and Western allies to take immediate steps to boost a “precarious” global energy market – with a focus on ensuring that European nations that have long relied on Russian energy have viable alternatives available.“The Cold War is back,” Dimon repeated. “The allies have to coalesce and not just for military purposes but for global, economic, strategic investment purposes so that we’ve got a safe world.
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