A war in the Middle East could have a number of economic consequences. For now, the most noticeable increase is in oil prices, mainly due to serious disruptions in the strategic Strait of Hormuz. The president of JPMorgan drew attention to the increased threat of attacks, including cyberattacks. He also assessed the impact of an attack on Iran on markets and inflation.
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Jamie Dimon warned that he expects an increase in cyber or terrorist attacks around the world after the United States and Israel attacked Iran over the weekend.
Asked by CNBC about the geopolitical risks of the conflict, Dimon said he believed the operation improved the chances for a “long, just peace” in the region.
“The most important thing is that we ensure the freedom and security of democracy in the Western world,” Dimon said. “People like him have been getting away with it for literally 50 years, and this is so much more important.”
“But… as a consequence, we should expect cyberattacks or terrorist attacks, both here and around the world,” Dimon said. “Banks could become targets.”
The impact on markets and inflation is likely to be limited unless the campaign is “extended,” he added.
During the American and Israeli attack, the long-time leader of Iran, Ayatollah Ali Khamenei, was killed.
Source: CNBC
