American Banker: Big-bank CEOs warn of recession risk

American Banker, May 4, 2022, Big-bank CEOs warn of recession risk

The CEOs of three large U.S. banks are raising concerns about a possible recession, saying the Federal Reserve has a tricky job ahead in combating inflation without sparking a downturn.

JPMorgan Chase’s Jamie Dimon, Bank of America’s Brian Moynihan and Morgan Stanley’s James Gorman warned in separate interviews Wednesday that drastic interest rate hikes from the central bank could end up stifling the economy.