At an investment conference on June 1, the chairman and CEO of JPMorgan Chase, Mr Jamie Dimon, made global headlines when he warned of a possible hurricane hitting the world economy. "Right now, it's kind of sunny, things are doing fine, everyone thinks the Fed can handle this," he said. "That hurricane is right out there down the road coming our way. We just don't know if it's a minor one or a Superstorm Sandy."
"I'm not forecasting that," he clarifies, in an interview at the bank's swanky new offices in Market Street, which he officially opened last week. There are multiple possible outcomes he points out. "There's a chance of a soft landing, there's a chance of a mini-recession, and there's a chance that things will get much worse."