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US heading into 2023 recession, says Dimon

JPMorgan Chase chief executive Jamie Dimon expects the US economy will enter recession next year and warned the downturn could lead to a further 20% fall in the value of US stocks and more stress in credit markets.

US heading into 2023 recession, says Dimon US heading into 2023 recession, says Dimon US heading into 2023 recession, says Dimon US heading into 2023 recession, says Dimon US heading into 2023 recession, says Dimon

Dimon sees US recession in 2023

Rising interest rates - including by the US Federal Reserve - and Russia's ongoing invasion of Ukraine were factors behind the prospects of a downturn next year.