when jpmorgan chase  co jpm ceo jamie dimon issues a warning about the economy people tend to listen he did just that tuesday morning on cnbcs squawk box what to know dimon spoke favorably about the current standing of consumers and businesses noting that consumers currently have 15 trillion in savings and are spending more than they did in 2021 the us economy is currently the strongest economy in the world but theres a problem he said the relative strength of the consumer wont last much longer if inflation continues to run hot inflation is eroding everything i just said and that trillion and a half dollars will run out sometime midyear next year and so when you’re looking out forward those things may very well derail the economy and cause a mild or hard recession that people worry about dimon said the jpmorgan ceo told cnbc that interest rates are headed to 5 his comments come after the federal reserve raised rates in november by 075 for the fourth straight time bringing its target fed funds rate to a range of 375 to 4 even if the fed hikes to 5 it still may not be enough to tackle inflation dimon said see also rate cuts may not come anytime soon cramer says feds not going to stop tightening until… this isnt the first time the jpmorgan ceo has issued an economic warning in june dimon said he was preparing the bank for an economic hurricane citing a lot of the same problems including inflation and rising rates at the time dimon predicted the sp 500 could fall another 20 from where it was trading at around 4150 the sp was down more than 1 at 3954 at the time of publication on tuesday the spdr sp 500 spy an exchangetraded fund that tracks the underlying sp 500 index is down approximately 165 since the start of the year and about 4 over the last six months jpm price action jpmorgan has a 52week high of 16981 and a 52week low of 10128 the stock was up 031 at 13179 at time of publication according to benzinga pro