JPMorgan Chase & Co. ( JPM ) CEO Jamie Dimon has sounded the alarm on a series of mounting threats facing the U.S. economy in a string of recent interviews and public appearances.

Dimon has cautioned that Wall Street's optimism may be misplaced, predicting zero or even negative growth ahead, a potential crack in the bond market and mounting fiscal deficits.

Here’s a look at some of Dimon's recent warnings that are reverberating across financial and political circles.

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Risk of Recession 

In the days after President Donald Trump announced the "worst-case scenario" for tariffs on “Liberation Day” in early April, markets were roiled with uncertainty and Dimon appeared in an interview on Fox Business. 

When asked if he expected a recession, Dimon replied, “I think that’s a likely outcome.” 

“A 2,000-point Dow decline creates a self-reinforcing cycle – people see losses in retirement accounts and pensions, leading to spending cuts,” he said. 

Though Dimon acknowledged that markets don’t always predict accurately, he said, “This time they’re right in pricing macro/micro-level uncertainties and consumer sentiment impacts.” 

Zero Growth 

About a week after Dimon's recession forecast, the CEO hosted JPMorgan's ( JPM ) earnings call and pointed out that the analyst community had lowered the consensus S&P 500 growth forecast from 10% to only 5% growth in 2025. 

He then predicted the forecast to be lowered even further in the near term. 

“My guess is that it [will] be zero and negative five probably the next month," Dimon warned. 

‘Huge Deficits'

Dimon pointed to the U.S. budget deficit after Moody’s downgraded the country’s credit rating in mid-May, citing concerns over a sustained increase in government debt and interest payment ratios.  

“We have huge deficits; we have what I consider almost complacent central banks,” Dimon said. “You all think they can manage all this. I don’t think they can,” he added.

Bond Market

Dimon warned last week that mounting risks are gathering in the bond market, leaving the financial system exposed to a potential shock after years of unchecked debt accumulation and expansive monetary policy.

"You're going to see a crack in the bond market," Dimon said, warning regulators and market participants of a looming dislocation.

"It's going to happen, and you're going to panic. I'm not going to panic."

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National Security and Defense 

The head of the largest bank in the country spoke to a group gathered at the Reagan National Economic Forum last Friday and warned that the United States must focus more on traditional defense priorities and less on Bitcoin (CRYPTO: BTC). 

He called for increased defense budgets and faster modernization to keep pace with global rivals and suggested the need to become more flexible with contracts in order to pivot, when necessary, to evolving technologies. 

“We don’t need to stockpile bitcoin,” Dimon said. “We should be stockpiling guns, bullets, tanks, planes, drones, you know, rare earths—we know what we need to do, it’s not a mystery.” 

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