Prices soar ahead of income; Dimon warns of 8% interest rates; CB gold consumption up; Gold to hit $2700?

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Inflation seems to be spiraling out of control, with ominous warnings of 8% interest rates and rising gold consumption.

“In his annual letter to investors, Jamie Dimon, the CEO of JP Morgan Chase, said that the world had been “generally on a path to becoming stronger and safer” in recent years, but experienced a significant setback in February 2022 with Russia’s invasion of Ukraine, The Guardian reported.

“When terrible events happen, we tend to overestimate the effect they will have on the global economy,” Dimon said. “Recent events, however, may very well be creating risks that could eclipse anything since world war II – we should not take them lightly.”

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JP Morgan boss Jamie Dimon urges unity amidst global challenges, calls for collaborative efforts in letter

Jamie Dimon’s annual letter to JPMorgan Chase shareholders provides insights not only into his perspectives on business but also on the economy, describing the current period as a “pivotal moment for America and the free world.” Dimon addresses deep divisions within the country and the uncertainty prevailing on a global scale.

The CEO of Wall Street banking didn’t specifically reference the conflict between Israel and Gaza in recent months. However, he acknowledged the “abhorrent attack on Israel and ongoing violence in the Middle East.” In his letter, he highlighted that these events have disrupted numerous assumptions about future safety and security, leading us to a “pivotal time in history,” NY Times reported.”

https://insiderpaper.com/jpmorgans-jamie-dimon-sounds-alarm-about-possible-worst-risks-to-us-since-ww2/

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