JPMorgan CEO: Iran war could reignite inflation and keep Fed rates higher for longer

JPMorgan CEO: Iran war could reignite inflation and keep Fed rates higher for longer JPMorgan Chase CEO Jamie Dimon warns that a resilient U.S. economy could face renewed inflation pressures if the war in Iran disrupts global energy markets By KEN SWEET AP business writer April 6, 2026, 12:59 PM NEW YORK -- JPMorgan Chase CEO Jamie Dimon warned in his annual shareholder letter that a “resilient” U.S. economy could face renewed inflation pressures if the war in Iran disrupts global energy markets. Dimon described inflation as the potential “skunk at the party” this year, cautioning that turmoil in oil and commodity markets could ripple through the economy, affecting everything from gasoline prices to manufacturing costs. He also warned that sustained inflation could force the Federal Reserve to keep interest rates higher for longer, posing risks to the broader economy and financial system. “Given our complex global supply chains, countries are experiencing disruptions in shipbuilding, food and farming, among others,” Dimon wrote. “The outcome of current geopolitical events may very well be the defining factor in how the future global economic order unfolds — then again, it may not.” Dimon has long used his annual letters to weigh in on major economic and policy issues. Past letters have focused on topics such as the COVID-19 pandemic, political upheaval in the United States, the global financial crisis and trade tensions . Despite the risks, Dimon struck a generally optimistic tone. Popular Reads Trump says 'we're blowing up' Iran if no peace deal in 48 hours Apr 6, 1:24 AM Artemis II live updates: Crew sets record for farthest humans traveled from Earth 29 minutes ago Pakistan announces US-Iran talks 'in coming days' Mar 29, 4:47 PM “Despite the unsettling landscape, the U.S. economy continues to be resilient, with consumers still earning and spending (though with some recent weakening) and businesses still healthy,” he wrote. While acknowledging the geopolitical co...