Jimmy Damon, CEO of Chase, says the markets are very satisfied

Jpmorgan Chase CEO Jimmy Damon He said that Markets Central bankers reduce the risks that our record has created Disabilityand Definitions And international tensions.

Dienon, veteran CEO and Chairman of the Board of Directors of the largest American bank by the assets, explained his view of the world during the annual investor day meeting in New York. He said he believed that the risks of high inflation and even stagnation are not properly represented through the values ​​of the stock market, which organized a return from Its lowest in April.

“We have a big deficit,” said Damon. “They all think they can manage all this. I don’t think they can,” he said.

Dienon said: “My own view is that people are satisfied because you have not seen an effective tariff.” “The market decreased by 10 %, (it’s) 10 % backup. This is an extraordinary amount of self -consent.”

Damon’s comments follow MOODY classification agency discount American credit rating on Friday due to concerns about the growing debt burden of the government. The markets have been listed in the past few months due to fears of the president Donald TrumpThe commercial policies of inflation will increase and slow down the world’s largest economy.

Damon said on Monday that he believed that Wall Street’s profits S & P 500 Companies, which have already decreased in the first weeks of Trump’s commercial policies, will decrease more with companies withdrawing or low directions amid uncertainty.

In six months, these expectations will decrease to the growth of profits 0 % after the start of the year by about 12 %. If this happens, stock prices are likely to decrease.

“I think the estimates of profits will decrease, which means that PE will decrease,” said Damon.

odds Recession“It is essentially a stagnation with inflation,” Damon added, doubles what the market believes.

Separately, one of the leading deputies of Damon said that companies’ clients are still in a “waiting and lying” position when it comes to acquisitions and other deals.

“The investment banking revenues are heading to a decrease in the” mid -teenage “percentage in the second quarter compared to the most amazing period, while trading revenues were heading up percentage of the individual number” from mid to top. “

About the constant question about Dimon’s schedule to hand over the CEO of one of his deputies, Dimon said nothing of it has changed The guidance last yearWhen he said he is likely to stay for less than another five years.

“If you are here for another four years, and perhaps two others,” as an executive president, Damon said, “This is a long time.”

Among all the executive offers presented on Monday, Marian Lake, Consumer Banquet President Marian Lake, was the longest time speaking in an hour. It is a major candidate for a successor, especially after senior operational officials Jennifer Pepsak She said she will not seek the highest job.