Jamie Dimon, major Wall Street figures issue warnings about Trump's tariffs
CBSN
Jamie Dimon, the CEO of JPMorgan Chase, is speaking out President Trump's sweeping tariffs, cautioning the levies could lead to higher inflation and slow the U.S. economy. Other Wall Street leaders are also starting to express tariff-related concerns, including billionaire hedge fund manager Bill Ackman.
While many corporate leaders have been notably silent around Mr. Trump's trade policies, Wall Street executives this week spoke critically of the Trump administration's range of tariffs, some of which went into effect over the weekend, following the loss of trillions of value in last week's stock market rout.
In his annual letter to shareholders Monday, Dimon warned that Mr. Trump's "tariffs will likely increase inflation and are causing many to consider a greater probability of a recession." Dimon's remarks come after he said in January that Americans should "get over" concerns about the effects of tariffs.
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