JPMorgan’s Dimon warns of a 2026 U.S. recession despite strong Q2 2025 growth, citing tariffs, AI bubble risks, and global instability.

JPMorgan CEO Jamie Dimon warned of a potential U.S. recession in 2026 despite strong 3.8% GDP growth in Q2 2025, citing risks from tariffs, geopolitical tensions, labor market shifts, and uncertain AI-driven economic returns. He expressed concern over the government shutdown, market overheating—particularly in AI stocks likened to the dot-com bubble—and global instability, including military preparedness shortfalls. While noting positive fiscal and regulatory developments, Dimon emphasized caution, stressing JPMorgan’s readiness for economic turbulence.