Jamie Dimon is worried the US economy is headed back to the 1970s

JPMorgan Chase (JPM) CEO Jamie Dimon is concerned the US economy could be in for a repeat of the problems that hampered the country during the 1970s.

“Yes, I think there’s a chance that can happen again,” he said during an appearance Tuesday at the Economic Club of New York.

The economy in that troubled decade was constrained by stagflation, a combination of low growth and high inflation, and Dimon said such a risk exists again.

“I worry that it looks more like the ’70s than we’ve seen before,” he added during a question and answer session with Marie-Josée Kravis, chair of the Museum of Modern Art and wife of KKR co-founder Henry Kravis.


continue reading »