JPMorgan Chase CEO Jamie Dimon speaks at Reagan National Economic Forum — 5/29/2026

Summary

JPMorgan Chase CEO Jamie Dimon discusses geopolitics, US dollar dominance, inflation outlook, Fed policy, and market risks at the Reagan National Economic Forum. He emphasizes the need for allied trade deals, onshoring critical supply chains, and warns of inflationary pressures from remilitarization and AI spending. He also comments on private credit risks and market exuberance.

• Dimon highlights ongoing geopolitical tectonic shifts including the Iran war and Ukraine.
• He argues the US dollar will stay the reserve currency due to military and economic strength.
• Dimon lists multiple inflationary forces: remilitarization, AI spending, trade restructuring, immigration limits, and deficit spending.
• He expects inflation could hit 4% and limits Fed rate cuts.
• JPMorgan's security and resiliency initiative aims to lend $1.5 trillion to defense, semiconductors, rare earths, and APIs.
• Dimon calls for onshoring critical supply chains with government policy support.
• He warns that private credit will underperform in the next credit cycle due to weak underwriting.
• Dimon describes equity markets as exuberant with low credit spreads, posing a risk.