Don't be too happy too soon! JP Morgan Chase CEO Warns America still faces economic recession risks.

Jamie Dimon, CEO of JPMorgan Chase, said in an interview on Thursday that even with recent significant reductions in tariffs between China and the US, the US economy still faces the possibility of a serious recession. "If a recession were to happen, I don't know how severe it would be or how long it would last. I hope we can avoid this situation, but I wouldn't completely rule it out at this time." Despite this, Dimon also said he would rely more on the judgments of JPMorgan Chase's internal economists. The bank's chief US economist, Michael Feroli, stated in a report to clients on Tuesday that the likelihood of a US economic recession "remains elevated, but is currently below 50%". Dimon's comments come less than a week after the US and China announced a temporary reduction in some tariffs. Under the agreement, both sides will significantly reduce certain tariffs on each other for the next 90 days. Meanwhile, the US has also suspended several tariffs on other countries for a period of 90 days. Before the US and China reached the "ceasefire agreement", Dimon had publicly stated that the US was likely facing an economic recession. Even though some tariffs have been suspended for now, he still pointed out that overall, US tariffs on imported goods remain much higher than last year, which could have a negative impact on the economy. "Even maintaining the current tariff levels, we have seen companies hesitating in their investment decisions and facing uncertainty about the future." However, he is cautiously optimistic about the tariff suspension: "I believe what should be done now is to take a step back, slow down the confrontation, and engage in dialogue." Dimon emphasized that despite some easing of the current situation, uncertainty in the global economy still exists, and markets need to remain highly vigilant against potential risks. For policymakers and the business community, finding a more stable and sustainable solution to the US-China trade issue remains crucial for the future steady development of the economy.