On April 6, JPMorgan CEO Jamie Dimon warned on Monday that the Iran war could pose risks of oil and commodity price shocks, potentially prolonging inflation and pushing interest rates above current market expectations. This warning was issued in his annual letter to shareholders. Dimon stated, "The challenges we face are immense." He referenced geopolitical risks such as the Russia-Ukraine conflict and broader hostilities in the Middle East. "Now, due to the Iran war, we also face the possibility of sustained volatility in oil and commodity prices, along with a reshaping of global supply chains, which could lead to more stubborn inflation and ultimately result in interest rates higher than current market expectations," Dimon said. He noted that time will tell whether the Iran war achieves U.S. objectives, adding that nuclear proliferation remains the greatest danger from Iran. Dimon also mentioned that the U.S. economy continues to show resilience, with consumers still earning and spending, although there has been a recent slowdown, and businesses remain healthy. However, he cautioned that substantial government deficit spending and past stimulus policies have driven economic growth, while increasing infrastructure spending remains an ever-growing demand.