JPMorgan Chairman and CEO Jamie Dimon praised the U.Southward. government for quick action in the wake of COVID-19, withal he criticized it for not having a "pandemic playbook."

Dimon is by and large known among the crypto customs for his derisive statements about Bitcoin (BTC). In September 2022, Dimon called Bitcoin "a fraud" correct before its historical height.  On some other occasion he said:

"Information technology's worse than tulip bulbs. It won't end well. Someone is going to become killed."

A few months later on, he acknowledged regretting those statements. (And when JPMorgan afterwards announced the JPM Money, it made Dimon expect a scrap silly.)

Dimon praises the stimulus bundle but criticizes the government

In the almanac letter to JPMorgan shareholders, Dimon goes on to praise the federal regime and the Federal Reserve on its prompt reaction to the current economic crisis:

"We applaud the speed with which the federal regime and the Federal Reserve (the Fed), equally well as other central banks around the earth, put together a stimulus package and other funding benefits to help individuals, businesses, and state and local entities beyond the The states and beyond."

At the same fourth dimension, Dimon criticizes the government for lack of a "pandemic playbook" and its full general unpreparedness for the crunch:

"There should take been a pandemic playbook. As well, every problem I noted above should take detailed and nonpartisan solutions. As we have seen in past crises of this magnitude, there volition come a time when we volition look back and it volition be articulate how we — at all levels of guild, authorities, business, healthcare systems, and civic and humanitarian organizations — could accept been and will be better prepared to face emergencies of this calibration."

The Great Recession all over again?

Dimon furthermore declares that JPMorgan is operating under the assumption that the impending recession will exist at least every bit bad as the Great Recession of 2008:

"...we don't know exactly what the future volition hold — simply at a minimum, nosotros assume that information technology will include a bad recession combined with some kind of fiscal stress similar to the global financial crisis of 2008".

Although Dimon might be wrong on Bitcoin, he knows a thing or ii about the economic system. Should his prediction about the impending economic crisis come truthful, Bitcoin may become more bonny than ever earlier.