Dimon: Resolve Tariffs Quickly

Jamie Dimon and other prominent names on Wall Street are voicing rising concerns about the effect of President Trump's tariffs on world markets. "We are likely to see inflationary outcomes," the CEO of JPMorgan Chase wrote in his closely watched annual letter to investors on Monday, reports Business Insider. "Whether or not the menu of tariffs causes a recession remains in question, but it will slow down growth."

• Dimon: "The quicker this issue is resolved, the better because some of the negative effects increase cumulatively over time and would be hard to reverse," he wrote, per Reuters.
• Dimon, II: He said the US was within its rights to negotiate what it saw as unfair trade imbalances, but he emphasized that negotiations should keep traditional economic alliances in place, per Axios.

• Bill Ackman: Politico takes note of a tweet from hedge fund manager and strong Trump ally Ackman: "To state the obvious, it does not help our country's and our president's negotiating position to be trying to strike deals while our market is collapsing," he wrote. "Whoever is recommending that idea to (Trump) should be fired now."
• Goldman Sachs: Its chief economist, Jan Hatzius, has raised the odds of the US falling into a recession from 35% to 45% because of the tariffs, reports Barron's. If most of the tariffs do indeed take effect as promised on Wednesday, "we expect to change our baseline to forecast a US recession."

JPMorgan on Thursday jacked the risk of recession from 40% to 60%, citing "disruptive US policies." (More Jamie Dimon stories.)