11:19 AM EDT, 05/23/2024 (MT Newswires) -- JPMorgan Chase & Co. ( JPM ) Chief Executive Jamie Dimon said Thursday that a "hard landing" was still possible for the US economy, CNBC reported.

Stagflation, marked by rising inflation and slowing growth, could pose the worst outcome for the US economy, leading to decreased corporate profits, Dimon said, speaking at the JPMorgan Global China Summit in Shanghai.

But even if the economy enters recession, Dimon said "the consumer is still in good shape."

On interest rates, Dimon said that they could still rise "a little bit," citing the stickiness of inflation and the continued influence of monetary stimulus. Despite market expectations for potential rate cuts, Dimon said these forecasts are not failsafe. He also doubted the world was prepared for higher inflation levels.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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