JP Morgan CEO warns government shutdown could lead to zero US growth in Q1

Joins calls from other US firms

Anna Fedorova
clock • 1 min read

JP Morgan Chase CEO Jamie Dimon has warned the record-long US government shutdown could push US economic growth down to zero for the first quarter of 2019.

His call joins other US corporates, with concerns mounting over the stand-off in US government over Donald Trump's proposed border wall which has lasted for weeks and has kept a quarter of the federal government shut. Government economists have increased their estimates of the economic cost of the shutdown, saying every week it continues will take away 0.13 percentage points from US GDP growth, according to a White House official. What is the outlook for US equities as investors face possible end of bull run? According to the FT, JP Morgan's Dimon said on an earnings call on 15 Jan...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now


Already an Investment Week


More on Economics

At the start of this month, the central bank held interest rates for the second successive meeting, seemingly bringing an end to the hiking cycle.

Federal Reserve consensus set on keeping rates higher for longer

Minutes of November meeting

Elliot Gulliver-Needham
clock 22 November 2023 • 3 min read
The conviction that the Federal Reserve has reached the peak of its hiking cycle is now the strongest since investors began providing their view on the timing.

Global investor worries about inflation and central banks are 'rapidly diminishing'

BofA Global Fund Manager survey

Valeria Martinez
clock 15 November 2023 • 2 min read
Catherine Mann (pictured) said it was important to recognise 'there is no no climate change scenario to fall back on' when it comes to monetary policy.

BoE's Mann: Climate change inflation is a 'concern' for all central bankers

Increased inflation persistence

Laura Miller
clock 14 November 2023 • 2 min read