In a veiled swipe Monday at the Trump administration, JPMorgan Chase CEO Jamie Dimon blamed poor planning for the COVID-19 crisis.

In an annual letter to shareholders, Dimon said, “As a nation, we were clearly not equipped for this global pandemic, and the consequences have been devastating.”

Dimon predicted a “bad recession” as the fallout. The worst-case scenario could see unemployment as high as 14% and gross domestic product plunging at a 35% annual rate in the second quarter, he warned.

Even then, the bank — the largest by assets in the nation — still plans to lend an additional $150 billion to customers, Dimon told shareholders.

Without naming President Donald …continued .
[Source: Huffington Post]