March 8–Although equity markets are still in a growth cycle, an eventual correction could mean a decline of 20 to 40 percent, according to a top executive at JP Morgan Chase & Co.
Pinto doubted the markets would head into correction territory now, primarily because the global economy is strong and inflation is only going up gradually. Furthermore, he said, central banks “are being very prudent in the way they adjust and normalize monetary policy.”
In a separate interview with Bloomberg Television, JP Morgan Chairman and CEO Jamie Dimon offered a similar sentiment. “One day we will have a recession. I don’t think it will be this year,” he said.
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