Jamie Dimon says economy is 'weakening' but even he can't make sense of all the different data: 'Maybe, one day, AI will fix that problem' | Fortune

"JPMorgan Chase CEO Jamie Dimon issued a sobering assessment of the American economy in an interview with CNBC on Tuesday, acknowledging clear signs that it's growing weaker and expressing uncertainty over its future trajectory. Still, he stopped short of making a recession call, saying that there is such a range of data that it's hard to parse. "We get data like you wouldn't believe. The government data is important. Our own data is important.""

"Dimon was speaking with CNBC's Leslie Picker on "Fast Money Halftime Report," ostensibly about the opening of his bank's shimmering new headquarters in Manhattan, before the conversation turned to what one of Wall Street's most influential voices makes of the economy. He said JPMorgan gets data from "non-government sources," and he cited "delinquency data, worldwide data, trade data. We get all of that.""

Jamie Dimon assessed that the American economy shows clear signs of weakening while its future trajectory remains uncertain. He declined to predict a recession, citing a wide range of government and non-government indicators that are hard to parse. JPMorgan collects government data plus delinquency, worldwide and trade data, but most measures are backward-looking and complicate forecasting. He noted a large Labor Department revision that removed nearly one million nonfarm payroll jobs, the largest adjustment in over two decades, heightening concerns about labor market health. He stated uncertainty whether the slowdown will become a recession, and observed that many consumers remain employed and continue spending.

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