1 year ago
93 Dimon said successful June that helium was preparing the slope for an economical "hurricane" caused by the Federal Reserve and Russia's warfare successful Ukraine.
Al Drago | Bloomberg | Getty Images
JPMorgan Chase CEO Jamie Dimon said Monday that the U.S. should forge up successful pumping much lipid and state to assistance alleviate the planetary vigor crisis, likening the concern to a nationalist information hazard of war-level proportions.
Speaking to CNBC, Dimon dubbed the situation "pretty predictable" — occurring arsenic it has from Europe's historical overdependence connected Russian vigor — and urged Western allies to enactment the U.S. successful taking a pb relation successful planetary vigor security.
"In my view, America should person been pumping much lipid and state and it should person been supported," Dimon told CNBC's Julianna Tatelbaum astatine the JPM Techstars league successful London.
"America needs to play a existent enactment role. America is the plaything producer, not Saudi Arabia. We should person gotten that close starting successful March," helium continued, referring to the onset of the vigor situation pursuing Russia's penetration of Ukraine connected Feb. 24.
This should beryllium treated astir arsenic a substance of warfare astatine this point, thing abbreviated of that.
Jamie Dimon
CEO, JPMorgan Chase
Europe — erstwhile a large importer of Russian energy, relying connected the state for up to 45% of its earthy state needs — has been astatine the forefront of that crisis; facing higher prices and dwindling proviso arsenic a effect of sanctions levied against the Kremlin.
And portion EU nations person deed targets to enactment up state supplies implicit the coming wintertime months, Dimon said leaders should present beryllium looking up to aboriginal vigor information concerns.
"We person a longer-term occupation now, which is the satellite is not producing capable lipid and state to trim coal, marque the modulation [to greenish energy], nutrient information for people," helium said.
"I would enactment it successful the captious category. This should beryllium treated astir arsenic a substance of warfare astatine this point, thing abbreviated of that," helium added.
'It's Pearl Harbor'
Referring to the warfare successful Ukraine much broadly, Dimon dubbed it an onslaught of akin magnitude to that of Pearl Harbor oregon the penetration of Czechoslovakia successful 1968.
"It's Pearl Harbor, it's Czechoslovakia, and it's truly an onslaught connected the Western world," helium said.
However, the CEO said it besides presented an accidental for the West to "get its enactment together" and support its values successful the look of autocratic regimes.
"The autocratic satellite thinks that the Western satellite is simply a small lazy and incompetent — and there's a small spot of information to that," said Dimon.
"This is the accidental to get our enactment unneurotic and to solidify the Western, free, democratic, capitalist, escaped people, escaped movements, state of speech, escaped religion for the adjacent century," helium continued.
"Because if we don't get this 1 right, that benignant of chaos you tin spot astir the satellite for the adjacent 50 years."
