The current banking crisis will be felt for years to come, and the industry is not yet out of the woods, according to JP Morgan Chase CEO, Jamie Dimon. He highlighted that recent bank failures have caused a drop in the stock market, increased the possibility of a recession, and have significantly changed market expectations. The possibility of the Federal Reserve needing to keep interest rates high for longer than expected is a concern, and risks posing “storm clouds” include “higher inflation for longer” and “growing political risks,” he said.