Everybody continues to waltz around at the topic of the economy as if it is sunshine and rainbows. It isn’t now and it won’t be a month from now. To back this whole claim of weather-related metaphors, Jamie Dimon, JPMorgan Chase CEO, is predicting an economic hurricane. Considering just how much the economy has been affected by the war in Ukraine, raising interest rate hikes by JPow and the Fed, and rising inflation, he could be spot on…

"Right now it's kind of sunny, things are doing fine. Everyone thinks the Fed can handle this. That hurricane is right out there down the road coming our way.

We just don't know if it's a minor one or Superstorm Sandy. You better brace yourself.”

Jamie Dimon said at a Bernstein Conference while adding JPMorgan will be working to prepare for “bad outcomes” and a "non-benign environment."

According to Jamie Dimon, the economy has been twisted and distorted by inflation. He has expressed worries that the Fed is starting to unwind its bond portfolio which is known to investors and economists alike as Quantitative Tightening (usually just referred to as QT). However, as the Fed is letting go of some liquidity, they are also jacking up interest rates. In Dimon’s opinion, the market isn’t prepared for this. He also adds, “people will be writing about [this] in history books for 50 years."

Jamie Dimon gave some sense of empathy to the Fed and central banks. He claims because of surging housing prices and other inflationary events that central banks must raise rates. He also gave some sort of comfort by reaffirming that the United States banking system is in great shape and will withstand any challenges.

Dimon used many weather metaphors. He claimed that there were "big storm clouds" on the horizon for the economy but expressed hope that they may "dissipate."

"If it was a hurricane, I would tell you that. Current conditions aren’t like the tsunami banks faced in 2007 and 2008 when the mortgage market was melting down.”

Jamie Dimon said.

As he reiterated his worries about the war in Ukraine with its effects on gas prices, Jamie Dimon said, "Wars go bad. They go south. They have unintended consequences.” He also stated that until the war ends, it will continue to wreck the commodity markets around the world.