Why JPMorgan CEO Jamie is concerned about large global fiscal deficits

JPMorgan Chase ( JPM ) CEO Jamie Dimon still sees ballooning US deficits as a major hazard.

It's one of the key risks called out in the bank's earnings release on Tuesday, alongside "sticky inflation" and "elevated asset prices."

Dimon told Yahoo Finance on a media call that he "wouldn't use the word most concerned" when describing his views on large deficits relative to the other economic risks he mentioned.

However, Dimon continued, "I think it's a global issue about these global deficits. They haven't been going down, and you know, it includes China and includes Europe and includes other countries and stuff like that. And I don't know when and how that might bite. I just think it creates another source of, you know, potential risk. So then change, you know, it also changes the supply and demand of capital, which you see both there and [with] AI."

JPMorgan reported mixed second quarter earnings. The bottom line fell short of estimates, but it gave a more upbeat outlook for 2027 than some expected.

Brian Sozzi is Yahoo Finance's Executive Editor, host of the Sozzi Unleashed morning show, the ' Power Players With Brian Sozzi' podcast and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi , Instagram , and LinkedIn . Tips on stories? Email brian.sozzi@yahoofinance.com.