JPMorgan’s Jamie Dimon warns of ‘serious issues’ that could affect the US economy

The CEO of JPMorgan Chase Jamie Dimon on Friday warned investors about the current dangers in the country’s economy, and pointed to the “critical issues” facing the US, in particular.

“We have been closely monitoring the geopolitical situation for some time, and recent events show that conditions are tricky and getting worse,” Dimon said in a press release accompanying JPMorgan’s third-quarter earnings. “There is significant human suffering, and the consequences of these conditions can have far-reaching consequences in both the short-term and historically significant economic consequences.”

“Furthermore, although inflation is slowing and the US economy remains strong, there are several critical issues, including the fiscal deficit, infrastructure needs, trade restructuring and global restructuring,” Dimon continued. “While we hope for the best, these events and the uncertainties that exist show why we must be ready for any environment.”

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The JPMorgan Chase Tower on Park Avenue in midtown Manhattan. (Tim Clayton/Corbis via Getty Images/Getty Images)

The JPMorgan chief has repeatedly warned that the US needs to get its fiscal house in order before the country’s budget deficit causes a crisis.

Earlier this year, Dimon signaled that the US was driving toward a cliff with its debt ceiling, and said the country’s “worst outcome” was inflation, adding, “And, I’m not going to take it off the table.”

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JPMorgan Chase is the largest bank in the US, with assets of $3.5 trillion, according to the Federal Reserve. Its stock is up nearly 30% year to date.

Jasmine Baehr of FOX Business contributed to this report.