Jamie Dimon, the CEO of JPMorgan, has issued a warning about the possibility of a severe downturn in the US economy next year. In an interview with the Wall Street Journal, Dimon acknowledged that the economy is currently performing well, with strong consumer spending, low unemployment, and the stock market trading near record highs. However, he cautioned that the economy’s strength is primarily driven by fiscal spending, which he believes will ultimately lead to a resurgence of inflation. Dimon identified five potential triggers that could result in a hard landing in 2025, including the green economy, global re-militarization, persistent deficits, and geopolitical factors. He emphasized the importance of being prepared for all possible outcomes and advised against complacency. Dimon drew a comparison to the 1970s, highlighting that the economy appeared positive in 1972 but faced a recession with high inflation and unemployment in 1973. He concluded by urging people not to be deceived by the current favorable conditions and stressed the need to distinguish between the present and the future.