JPMorgan Chase's Jamie Dimon sounds market correction warning

JPMorgan Chase CEO Jamie Dimon is sounding an alarm about the stock market, saying he expects a significant correction could be on the way – perhaps in as little as six months.

In an interview with the BBC , Dimon said he was "far more worried than others" about a serious market correction than his peers. While he declined to put an exact timeline on his bearish prediction, he said it could come anywhere from six months to two years from now.

“So if the market is pricing in 10%, I would say it’s more like 30%, and I’m not saying next year because the timing of these things is almost impossible,” he said.

Dimon pointed to a number of risk factors for the market, including the geopolitical environment, fiscal spending, and the remilitarization of the world. Any of those, he said, could cause issues that the market (and world) wouldn't know how to address.

"So I say the level of uncertainty should be higher in most people's minds than what I would call normal," he said.

One area where Dimon isn't concerned, however, is one that many others have been watching: The continued investment into AI. Many economists have warned that there could be an AI bubble forming, which rivals the one that grew around Internet stocks at the turn of the century.

Dimon says he believes AI will pay off, though some of the money being invested in it would "probably be lost."

Dimon seemed to point at global geopolitical instability as the biggest risk facing the economy today – and urged the government to focus on increasing its inventory of weapons.

"People talk about stockpiling things like crypto, I always say we should be stockpiling bullets, guns, and bombs," he said. "The world's a much more dangerous place, and I'd rather have safety than not."

Amid concerns about government control of the Federal Reserve, Dimon said he felt the Central Bank would remain independent. Despite Donald Trump's frequent comments and posts attacking Fed Chair Jerome Powell, Dimon said he would take Trump "at his word" that the Fed would continue to stand on its own. He did express concerns, though, that the Fed might not be able to deliver the rate cuts the market is hoping for as inflation continues to rise.

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