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Inflation, Geopolitics Could Derail Economy: JPMorgan's Pinto
Posted
January 22, 2025
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January 22, 2025
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9:10Now PlayingJPMorgan Chase Chief Operating Officer Daniel Pinto says inflation and geopolitics could derail optimism in financial markets. At the same time, Pinto says the US economy is in a good place.
When it comes to US small businesses, Pinto says private credit’s financing of small businesses warrants attention, given the booming industry has yet to experience the fallout from an economic deterioration.
“There is a lot of direct lending going into the smaller side of middle markets,” he said in an interview with Bloomberg Television at the World Economic Forum in Davos on Wednesday. “How these funds are going to behave in a downturn with small businesses is something you want to be concerned about it, you want to keep an eye on.”
Private credit has boomed in recent years as funds step in to fill gaps left by banks after the 2008 financial crisis. While the industry saw an economic slowdown during the onset of the Covid pandemic, extensive government guarantees at that time mean it has yet to be tested in a crisis, Pinto said.
Pinto spoke with Bloomberg's Lisa Abramowicz and Jonathan Ferro at the World Economic Forum in Davos, Switzerland.
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