logo logo

The next-generation financial news, and trading signals for you to start driving your FOMO today!


FREE trading signals

Get free daily crypto signals to make profitable trades every day!

View fresh signals


Peter Davis

An writer at FOMOdrive

  • Oct 17, 2023
  • 2 min read

JPMorgan warned investors of 'most dangerous time' in decades

The CEO of JPMorgan issued a stern warning to investors as earnings season began.

The State Duma foresaw an impending global crisis and suggested that we should remain invested in the ruble during this time.

The rising tensions in the Middle East are causing a great deal of uncertainty in the international economic landscape.

Jamie Dimon, CEO of JPMorgan Chase, kicked off the third-quarter reporting season with a stern warning to investors, as reported by RBC. He cautioned that "this may be the most dangerous time the world has seen in decades."

In JPMorgan Chase's report, Dimon warned that the conflict in Ukraine and Israel's war with Hamas "could have far-reaching implications for energy and food markets, global trade, and geopolitical relations."

He suggested that, despite tight labor markets and high levels of government debt, a soft landing for the US economy is more probable than a recession. He added that inflation could remain high for longer than anticipated and interest rates could increase even further.

Anatoly Aksakov, the head of the State Duma Committee on the Financial Market, declared that the world is currently facing a global crisis, and that military conflicts in various regions have been deliberately instigated in order to "release pressure and prevent the situation in the United States from escalating".

The head of the State Duma Committee on the Financial Market believes that the most reliable currency to protect against the global crisis is the ruble, and that the best way to do this is to save in rubles.

Aksakov remembered that the proposed budget had a rate of 90 rubles to the dollar for 2024, and he thought that the ruble exchange rate "should be much stronger."

Kristalina Georgieva, the managing director of the International Monetary Fund (IMF), warned that the continuing dispute between Israel and Hamas could be "yet another source of instability" for the world economy.

She stated that the amount of deficit and debt in the world has increased drastically since the start of the coronavirus pandemic, thus necessitating more caution when it comes to fiscal policy.

Share this article