Jamie Dimon

A severe economic "hurricane" (major US economic downturn) is coming soon, driven by Fed tightening, inflation and the war in Ukraine.

“That hurricane is right out there down the road coming our way.”

Said on

1 June 2022 · AllianceBernstein Strategic Decisions Conference, New York

Source

Jamie Dimon is warning that an economic 'hurricane' is on the way: 'You better brace yourself' · ABC7 News (CNN)

Should come true

No date given

How sure they sounded

We just don't know if it's a minor one or Superstorm Sandy

Categories

Economy

Importance

4 of 5 · A severe US downturn would have major global economic consequences.

Outcome

Inaccurate

No window was given; "right out there down the road coming our way" implies soon, so the inferred window is about two years (to June 2024). No US recession or severe downturn followed: the NBER dates none after April 2020 and real GDP grew about 2.9% in 2023. Stocks did fall into a bear market in 2022, but the economic "hurricane" he described did not arrive.

Evidence:

• https://www.nber.org/research/data/us-business-cycle-expansions-and-contractions
• https://bea.gov/index.php/news/2025/gross-domestic-product-4th-quarter-and-year-2024-third-estimate-gdp-industry-and