On April 29, JPMorgan CEO Jamie Dimon warned once more that the downturn in the credit market may be more severe than expected, even after his bank and Wall Street competitors reported strong quarterly performances with solid loan portfolios. During a meeting at Norway's central bank investment management company on Tuesday, Dimon stated that particularly in the private credit sector, where over 1,000 companies are operating, it could mean that not all firms will emerge unscathed when the cycle reverses. He noted that while some companies 'may be doing exceptionally well, I can guarantee that not all 1,000 are.' Therefore, in his view, based on this and underwriting standards, we have not experienced a credit recession in a long time, so when the next one occurs, it will be worse than people imagine. He added, 'It won't be catastrophic, just worse than people think. By the way, this may also apply to some banks.'