JP Morgan CEO Jamie Dimon said he is concerned over current fiscal policies and skeptical about the market’s optimism for a “soft landing.” And while he never mentioned Bitcoin—he promised he wouldn’t—American financier Anthony Scaramucci said Dimon’s risk-averse comments suggest that he needs to ”do more homework” on the digital asset.

It started with an inflation-focused interview with CNBC at the annual Global High Yield & Leveraged Finance Conference in Miami, where Dimon said he was “kind of cautious about everything.”

“All these factors we talked about—QT, fiscal spending deficits, the geopolitics, those things may play out over multiple years,” Dimon said. “But they will play out and have an effect, and we just don’t know what they are.”

Dimon noted the financial market’s ability to change quickly and said that confidence in the market is currently high, but cautioned against overly focusing on short-term economic indicators at the expense of understanding long-term trends.

“There’s more [mergers and acquisitions] chatter, equity markets are up, and spreads are getting close to historical lows,” Dimon said. “There’s a lot of money chasing high-yield deals, so things are open. Markets are high, people feel it. So, so far, so good.”

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Author: Jason Nelson

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