Jamie Dimon Says If There's A Mild Or Harsh Recession 'We're Going To Be Fine,' But Here's His Primary Concern

Last week, a Reuters poll of economists found that they anticipate the U.S. to experience a short and shallow recession over the coming year, and all agreed that the Federal Reserve will go for a smaller 50 basis point interest rate hike on Dec. 14. 

In an interview with CBS News' "Face the Nation" on Sunday, JPMorgan Chase & Co (NYSE: JPM) CEO Jamie Dimon spoke about the anticipated recession and said he doesn't know whether there will be a mild or harsh recession, but "if it happens, we're going to be fine." 

Earlier in October, Dimon warned about the signs of a looming recession. 

Dimon expressed his concern about an energy crisis as a result of the war in Ukraine and said it could get worse. He called for a "Marshall Plan" for energy. 

"The Europeans will get through it this winter, but this oil and gas problem is going to go on for years," Dimon told CBS News. "So if I was in the government or anywhere else, I'd say, I have to prepare for getting much worse. I hope it doesn't, but I would definitely be preparing for it getting much worse." 

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Speaking about last month's midterm election, Dimon said, "I thought the election was good because on both parties the wing nuts didn't get elected. When I was just in Congress, I was gratified by their thought they want to make progress, and I think they can make progress."

Dimon also addressed the concern that a divided Congress could lead to legislative gridlock. "There are a lot of examples in history, under George W. Bush, Obama, Clinton, where when you had a divided Congress they actually got a lot of good things done," he noted. 

Photo: Courtesy of FORTUNE Global Forum from flickr.