Key facts: Although inflation in August rose less than expected, the economy is «not out of the woods.» The head of the largest US bank fears that the country will fall into stagflation. Jamie Dimon, CEO of the US banking giant JPMorgan Chase, fears that the «worst outcome» for the US economic future beyond recession is coming. The executive spoke on the economic issue during the Council of Institutional Investors held in New York a few days ago, where he warned that, despite some favorable indicators, the situation It is still not as good as many believe.«We're not out of the woods, no, I don't think so,» Dimon insisted, predicting a bleak outlook even though inflation in August grew less than expected, estimated at 2.5%. According to his statements, the director of the largest bank in the US fears that what will occur in the coming months as a «stagflation»«. The term, an acronym for stagnation and inflationrefers to a state in which economic growth slows while inflation and unemployment rise. This can cause long-term savings to decline, further causing the stock market crash. A situation that was last experienced in the United States during the 1970s. The CEO of JP Morgan makes his prediction taking into account the outlook for the United States debt, which he sees as one of the major causes of inflation on the horizon. This, after reaching, on September 12, the figure of $35.3 trillion (and it continues to grow). It is estimated that the interest payments on this amount – which are due next October – will be for the first time above one trillion dollars and outstrip the costs of the national defense budget. For this reason, Dimon is concerned about the array of inflationary forces he sees on the horizon. He thinks higher deficits and more infrastructure spending will come, adding pressure to an economy that is “still reeling from the impact of higher interest rates.” “All of these factors are inflationary over the next two years,” Dimon said. “So it’s hard to look at them and feel comfortable.” In this way, he reiterates the warnings he made last August about an economic slowdown. At that time, after watching the markets plummet on Black Monday, he said the chances of a “soft landing” were between 35% and 40%The executive's forecasts come at a time when investors are turning their attention at signs of slowing growth. They are also awaiting the announcements that the Federal Reserve (Fed) will make this week on the consumer price index, the producer price index and interest rates. As BitcoinDynamic has reported, this Wednesday, September 18, the meeting will take place in which the Fed will say whether interest rates will be cut. A decision that seems very likely in light of the statements made by the president of the organization, Jerome Powell, when he commented that «the time has come to adjust monetary policy.» These are a series of macroeconomic factors that have a significant impact on the price of bitcoin (BTC). This is because it influences the incentive of investors to borrow money and place it in higher-risk assets. Depending on this motivation, a greater or lesser demand for BTC is generated.