Jamie Dimon, CEO of JPMorgan Chase, says financial markets are resembling the period just before the 2008 global financial crisis.
At the bank’s Company Update 2026 in New York, Dimon said said he sees growing complacency around high asset prices and volumes.
“Unfortunately we saw this in ’05, ’06 and ’07, almost the same. The rising tide lifted all boats, everyone made a lot of money, people pushed themselves to the limit. The sky was the limit…
My own opinion is that people are feeling a little bit comfortable that this is real. These high asset prices and high volumes ensure that we will not have any problem.”
Dimon, who plans to remain CEO for a few more years, also highlighted increasing competition from returning rivals.
“All our main competitors are back in the United States, in Europe. The Japanese are back. I mean, everyone is back. It’s good for the world and so on.”
I don’t know how long it will be great for everyone. I see some people doing stupid things.”
The event’s annual overview presentation cited elevated asset prices as a key macro risk.
JPMorgan Chase expects 2026 net interest income of about $104.5 billion and enterprise-wide technology spending of $19.8 billion, up about 10% from 2025.
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