On Tuesday, JPMorgan Chase’s CEO, Jamie Dimon, issued a cautionary statement regarding the risks associated with forming fixed economic outlooks.

He emphasized the questionable track record of central banks, such as the Federal Reserve, in light of recent events.

In his latest in a series of warnings about future developments, coming from the leader of the largest U.S. bank in terms of assets, Dimon underscored the increasing complexity of the multitude of factors currently in play, CNBC reported.

“Prepare for possibilities and probabilities, not calling one course of action, since I’ve never seen anyone call it,” Dimon said during a panel discussion at the Future Investment Initiative summit in Riyadh, Saudi Arabia.

“I want to point out the central banks 18 months ago were 100% dead wrong,” he added. “I would be quite cautious about what might happen next year.”

These remarks harken back to the Federal Reserve’s economic projections from early 2022 and the preceding year.

During that period, central bank authorities consistently asserted that the spike in inflation would be temporary.

Written by staff