-World War 3 has begun- JPMorgan CEO worries about geopolitics more than economic prospects

JPMorgan Chase CEO Jamie Dimon, typically focused on financial markets and Federal Reserve trends, has expressed growing concerns about geopolitical tensions, declaring on Thursday at the International Institute of Finance (IIF) annual meeting in Washington that, in light of the current global geopolitical climate, economic prospects are now “secondary.”

According to a report from MarketWatch, Dimon voiced his worries regarding the wars in Ukraine and the Middle East, as well as the increasing collaboration among the U.S.’s adversaries, including Russia, China, North Korea, and Iran.

“They are clearly discussing ways to undermine the system that the U.S. and its allies established after World War II,” he said. Dimon believes that this system ushered in an unprecedented era of global economic growth. He stated, “The risks are extraordinary. We are already in what can be considered the third World War, as evidenced by coordinated ground battles occurring in multiple countries.”

Moreover, he revealed that his risk management team has been simulating the potential economic impacts of escalating global conflicts, noting that “these scenarios would shock you.” He highlighted that “nuclear proliferation is the greatest risk humanity faces, even surpassing climate change.”

In a recent New York Times report, it was mentioned that Dimon has “privately” indicated support for Vice President Kamala Harris to potentially take the White House, and he is contemplating a role in a future Harris administration, possibly as Secretary of the Treasury.