"The war in Ukraine and the sanctions on Russia, at a minimum, will slow the global economy — and it could easily get worse," theCEO wrote in the letter. Dimon said the stimulus-driven recovery from Covid-19, the need to rapidly raise interest rates to fight inflation and the war in Ukraine represent a unique set of challenges. "America must be ready for the possibility of an extended war in Ukraine with unpredictable outcomes," Dimon said. "Our solutions should acknowledge that we are essentially, and unfortunately, reverting to some Cold War strategies," Dimon said. The war in Ukraine, along with Covid-19, have exposed glaring weaknesses in the supply chains that underpin the world economy.

Source: CNN April 04, 2022 22:47 UTC