Jamie Dimon, the CEO of JPMorgan Chase, made a strategic decision to appear Wednesday on Fox Business's "Mornings with Maria," hosted by Maria Bartiromo, to deliver a warning about a potential recession, speculating that he chose this platform because he believed President Donald Trump, a known viewer of Fox Business, would be watching—and, as the story suggests, he was correct. according to a story at Mediaite today. The message apparently was enough to make President Trump blink first.
During the interview, Dimon expressed concerns about the U.S. economy, stating that a recession was a "likely outcome" due to the economic uncertainty and market volatility spurred by Trump’s tariff policies. He pointed to the significant market downturns, including a $6 trillion loss in stock market value in under a week, as evidence of the tariffs' destabilizing effects. Dimon also predicted an increase in corporate defaults and suggested that Trump’s administration should negotiate trade deals to mitigate further damage, specifically mentioning Treasury Secretary Scott Bessent as a capable figure to handle such negotiations.
The story emphasizes Dimon’s shift in tone from earlier statements. In January 2025, at the World Economic Forum in Davos, he had downplayed the economic impact of tariffs, suggesting national security benefits might outweigh any inflationary costs. However, in his annual letter to shareholders released on April 7, 2025, and reiterated in the Bartiromo interview, Dimon adopted a more cautious stance, warning of inflationary pressures and short-term economic struggles linked to the tariffs.
Recession is now 'a likely outcome' : Jamie Dimon pic.twitter.com/t0rBszb1jP
— Mornings with Maria (@MorningsMaria) April 9, 2025
Mediaite notes that Trump indeed tuned in, as evidenced by his subsequent Truth Social post where he selectively quoted Dimon saying, “Fixing Trade and Tariffs is a good thing!” Trump omitted the broader context of Dimon’s warning about a likely recession and potential defaults, instead framing it as an endorsement of his trade policies. The article suggests Dimon’s choice of Fox Business—a network Trump frequently watches—was deliberate, aiming to influence the president directly as markets continued to spiral amid the escalating trade war with China, which had retaliated with an 84% tariff on U.S. goods following Trump’s 104% levy on Chinese imports.
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