Jamie Dimon warns of 'storm clouds,' while telling investors to relax

#JamieDimon #stockmarket #youtube JPMorgan CEO Jamie Dimon had one message for investors on the company's earnings call: there are 'storm clouds ahead.' JPMorgan coming out of the gate strong with a huge first quarter revenue beat, and a big prediction for future net interest income. The earnings call offered a more downbeat tone, with CEO Jamie Dimon using his weather analogies once again. "The U.S. economy continues to be on generally healthy footings —consumers are still spending and have strong balance sheets, and businesses are in good shape," Dimon said. "However, the storm clouds that we have been monitoring for the past year remain on the horizon, and the banking industry turmoil adds to these risks." Dimon also discouraged the use of 'credit crunch' on the call. Although the CEO acknowledged that more challenging lending conditions are already being seen in the real-estate sector, he said bank credit overall will continue to flow despite concerns of a credit crunch, which were voiced by Chicago Fed President Austan Goolsbee. “Obviously, there’s going to be a little bit of tightening, and most of that will be around certain real-estate things,” Dimon said. “You’ve heard it from real-estate investors already, so I just look at that as a kind of thumb on the scale. It just means the fast conditions will be a little bit tighter, which increases the odds of a recession. That’s what that is. It’s not like a credit crunch.” Yahoo Finance's Brad Smith recaps JPMorgan CEO Jamie Dimon’s commentary on recent U.S. banking turmoil and recessionary concerns at Friday’s earnings call. Check out more coverage on the bank earnings here Key Video Moments: 00:00:37: Dimon on banking turmoil 00:01:15 Dimon on the economic landscape 00:01:50 JPMorgan earnings call breakdown 00:03:45 Vibe check on JPM Earnings call Subscribe to Yahoo Finance: yhoo.it/2fGu5Bb About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. Yahoo Finance Plus: With a subscription to Yahoo Finance Plus get the tools you need to invest with confidence. Discover new opportunities with expert research and investment ideas backed by technical and fundamental analysis. Optimize your trades with advanced portfolio insights, fundamental analysis, enhanced charting, and more. To learn more about Yahoo Finance Plus please visit: yhoo.it/33jXYBp Connect with Yahoo Finance: Get the latest news: yhoo.it/2fGu5Bb Find Yahoo Finance on Facebook: bit.ly/2A9u5Zq Follow Yahoo Finance on Twitter: bit.ly/2LMgloP Follow Yahoo Finance on Instagram: bit.ly/2LOpNYz Follow Yahoo Finance Premium on Twitter: bit.ly/3hhcnmV

• #news_politics
• #yahoo_finance
• #personal_finance
• #money
• #investing
• #business
• #savings
• #investment
• #stocks
• #bonds
• #fx
• #currencies
• #nyse
• #equities
• #news
• #politics
• #market
• #markets
• #yahoo_finance_premium
• #stock_market
• #jamie_dimon