Jimmy Damon, CEO of JPMorgan, says the economy “weakens”

Jpmorgan Chase CEO Jimmy Damon He said this is the report of the Ministry of Labor Released on Tuesday He stressed that the American economy slows down.

The department reviewed the non -agricultural salary statements for the year until March 2025 in 911,000 preliminary estimates. It was on the high side of Wall Street’s expectations for a landmark and the largest review in more than two decades.

“I think the economy is weakening,” Damon said. “Whether it is on the way to stagnation or just weakness, I don’t know.”

The review, which shows the largest economy in the world, follows much lower jobs than thought, follows a report indicating that the growth of employment may slow down to a short stop in July, adding only 73,000 jobs. President Donald Trump Firing Last month of the issuance of this report.

the August numbers It also showed weakness, as non -agricultural salary statements increased by only 22,000 in that month.

Investors pay attention to Damon’s opinions about the economy, given his long period of work that directs the largest American bank through assets during the turmoil. He still has, often he has Warning This is not achieved immediately.

Demon said that JPMorgan is familiar with a set of data about consumers, companies and global trade. Most consumers still have jobs and spend money, depending on their income levels, but their confidence may have achieved great success.

“There are many different factors in the economy at the present time,” Damon said, noting that the consumer profit weakens and there is still a profit of companies. “We just have to wait and see.”

Damon said that the Federal Reserve “maybe” will reduce the standard interest rate at its next meeting later this month, although this may not be “the economy.”