Top US financial experts have expressed growing concern about the global economy’s ability to overcome challenges such as recession risk and high inflation. writes about this Bloomberg Citing views of JPMorgan CEO Jamie Dimon and former Bridgewater Associates chairman Ray Dalio.
JPMorgan Chief Executive Jamie Dimon said central banks were “absolutely wrong” in their fiscal forecasts about a year and a half ago. Speaking at a conference in Riyadh, Dimon expressed doubts that regulators and governments can deal with the consequences of inflation and slowing economic growth. This could negatively impact the global economic growth rate in 2024, the publication writes.
“Fiscal spending is higher now than at any time in peacetime and there is a perception that central banks and governments can handle it all. “I’m cautious about what’s going to happen next year,” Dimon concluded.
Dimon compared today’s situation to the 1970s and downplayed the impact of further rate hikes. Ray Dalio also supported his colleague, saying his forecast for the global economy in 2024 was “pessimistic”, citing a number of risks such as high levels of government debt, conflict and unrest.
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