Coronavirus means a bad recession – at least – says JP Morgan boss
by Rob Davies from on (#51SDB)
Jamie Dimon singles out US structural problems, and warns inadequacy of emergency planning will be laid bare
The boss of JP Morgan, Wall Street's biggest bank, has said the world faces a "bad recession" as he took a swipe at America's lack of preparedness for the pandemic.
In his annual address, written a month after he underwent emergency heart surgery, Jamie Dimon said that at the very least a severe downturn was on its way coupled with financial pressures reminiscent of the banking crash more than a decade ago.
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