US to enter a bad recession - JP Morgan's Jamie Dimon

Jamie Dimon, the CEO of JP Morgan, predicts the US will see a severe downturn along with some kind of financial stress similar to the global financial crisis of 2008.

Dimon said that JP Morgan is preparing for a 35% plunge in economic growth and a rise in the jobless rate to 14%. 

Dimon made the predictions in his annual letter to shareholders.