Dimon notes that the economy continues to grow and that the job market and consumer spending remain healthy. However, he also warned that “geopolitical tension, high inflation, waning consumer confidence, the uncertainty about how high rates have to go and the never-before-seen quantitative tightening and their effects on global liquidity, combined with the war in Ukraine and its harmful effect on global energy and food prices are very likely to have negative consequences on the global economy sometime down the road.”

Read the full article from CNBC.