Jamie Dimon Warns of Economic Instability and Geopolitical Upheaval at Reagan Forum

JPMorgan Chase CEO Jamie Dimon issued a stark warning about mounting economic and geopolitical risks during his address at the Reagan National Economic Forum in Simi Valley, California, on May 30, 2025. Dimon cautioned that excessive U.S. government spending and prolonged Federal Reserve quantitative easing could trigger a significant disruption in the bond market, though he acknowledged the exact timing remains unpredictable.

Dimon described the current global landscape as a period of "tectonic plates shifting," emphasizing the need for the United States to reinforce its military and economic alliances to safeguard global stability. He argued that the U.S. should prioritize stockpiling weapons, ammunition, and rare earth materials over cryptocurrencies like Bitcoin, which he dismissed as irrelevant to national security.

Turning to domestic issues, Dimon warned that internal mismanagement poses a greater threat to America's global standing than external adversaries. "I'm not particularly concerned about China. They are a possible rival, but my primary concern is with ourselves," he told the audience, urging the U.S. to focus on improving its own governance and economic policies. Dimon called for comprehensive reforms in regulations, immigration, and the tax system, asserting that these changes are essential for achieving sustained 3% annual economic growth.

Dimon also expressed skepticism about the effectiveness of tariffs, cautioning that protectionist measures could lead to stagflation or even a recession. He underscored the importance of fiscal discipline, warning that persistent deficits and inefficient government spending could undermine economic resilience and stability.

Despite JPMorgan's strong financial performance, Dimon's remarks reflected a cautiously pessimistic outlook, highlighting the need for urgent action to address both domestic and international challenges. "We need to get our act together and do so promptly," he concluded, urging policymakers and business leaders to confront these risks head-on to preserve America's economic leadership.