Jamie Dimon says the economy ‘is weakening’

09/09/2025 Argaam

JPMorgan Chase CEO Jamie Dimon said that a Labor Department report released Tuesday confirmed that the U.S. economy is slowing down.

 

The department revised lower its nonfarm payrolls data for the year through March 2025 by 911,000 jobs from initial estimates.

 

“I think the economy is weakening,” Dimon said. “Whether it’s on the way to recession or just weakening, I don’t know.”

 

Dimon said the revision "just confirms what we already believed," while US President Donald Trump used the revised figures to pressure the Federal Reserve to accelerate the pace of interest rate cuts.

 

In a post on Truth Social, he attacked the Fed's leadership: "Incompetence is more important to them than defend theoretical independence."

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