'JPMorgan Chase (JPM) CEO Jamie Dimon is concerned the US economy could be in for a repeat of the problems that hampered the country during the 1970s.
"Yes, I think there’s a chance that can happen again," he said during an appearance Tuesday at the Economic Club of New York.
The economy in that troubled decade was constrained by stagflation, a combination of low growth and high inflation, and Dimon said such a risk exists again.
"I worry that it looks more like the '70s than we've seen before," he added during a question and answer session with Marie-Josée Kravis, chair of the Museum of Modern Art and wife of KKR co-founder Henry Kravis.
"There are circumstances in which it'll look more like the '70s than what we've had for the last 20 years."
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Jamie Dimon is worried the US economy is headed back to the 1970s, April 23, 2024
Context(Global Stagflation)(1970s-style stagflation) - Inflation: Grocery prices reaccelerate(Sticky Inflation)(Inflation getting entrenched)(Interest rates _way_ too low) - '..relearning the painful inflation lessons of the 1970s''..inflation’s resilient and cyclical nature..'Surging auto insurance rates squeeze drivers, fuel inflation, April 24, 2024