27 October 2023
In an alarming move, JPMorgan CEO, Jamie Dimon, is dumping 1 million shares of the bank for the first time ever, cashing out roughly $140 million. The timing is suspicious, especially following Dimon’s stark warnings about economic uncertainties and his pointed criticism of central banks, particularly the Fed. At a recent summit, Dimon explicitly called out central banks for their consistent misjudgments and emphasized caution for what’s looming in the next year. This massive stock sale, juxtaposed against his vocal skepticism, raises red flags about his dwindling trust in the Federal Reserve’s ability to navigate the murky financial waters ahead.