JPMorgan CEO Jamie Dimon says the economy ‘is weakening’

## Jamie Dimon Sees Signs of Economic Weakness

This article summarizes JPMorgan Chase CEO Jamie Dimon’s assessment of the current U.S. economy, based on recent Labor Department reports and his bank’s internal data. Dimon believes the economy is weakening, although he’s unsure if a recession is imminent.

• **Job Market Revision:** The Labor Department revised down its nonfarm payrolls data for the year through March 2025 by a significant 911,000 jobs, the largest revision in over two decades.
• **Slowing Employment Growth:** Recent employment reports show a slowdown in job growth, with near-halt growth in July and only a modest increase in August.
• **Dimon’s Perspective:** Jamie Dimon, known for his long tenure and insight into economic trends, believes the economy is weakening.
• **Consumer Confidence:** While consumers are still spending, their confidence may be waning.
• **Corporate Profit:** Corporate profits remain robust.
• **Federal Reserve Action:** Dimon anticipates the Federal Reserve will likely reduce interest rates at its next meeting.

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