A confluence of multiple major occurances will bring problems down the road, according to Jamie Dimon.

The global economy has been severely shaken by multiple major events, including, but not limited to, the ongoing COVID-19 pandemic, the humanitarian crisis arising from the Russian invasion of Ukraine, and the looming threat of inflation brought about these and other factors. It’s for this reason that Jamie Dimon, CEO of one of the biggest banks in the United States, JPMorgan, forsees more headaches in the not-too-distant future.

“Each of these three factors mentioned above is unique in its own right: The dramatic stimulus-fueled recovery from the COVID-19 pandemic, the likely need for rapidly raising rates and the required reversal of QE, and the war in Ukraine and the sanctions on Russia,” Dimon wrote in his annual shareholder letter.

“They present completely different circumstances than what we’ve experienced in the past – and their confluence may dramatically increase the risks ahead,” he wrote. “While it is possible, and hopeful, that all of these events will have peaceful resolutions, we should prepare for the potential negative outcomes.”

“Russian aggression is having another dramatic and important result: It is coalescing the democratic, Western world — across Europe and the North Atlantic Treaty Organization (NATO) countries to Australia, Japan and Korea. […] The outcome of these two issues will transcend Russia and likely will affect geopolitics for decades, potentially leading to both a realignment of alliances and a restructuring of global trade. How the West comports itself, and whether the West can maintain its unity, will likely determine the future global order and shape America’s (and its allies’) important relationship with China.”