JPMorgan Chase CEO Jamie Dimon has changed his tune on tariffs, saying Wednesday that they're a valuable economic tool. "They're an economic weapon, you know, depending how you use it why you use it,

Businesses worldwide and mainstream economists are fretting about higher prices as President Donald Trump unveils his tariff-heavy economic strategy. But Jamie Dimon, CEO of the world’s largest bank,

JPMorgan CEO Jamie Dimon sounded the alarm on stocks in an interview today at the World Economic Forum in Davos, Switzerland, saying that the market looks overvalued. "Asset prices are kind of inflated, by any measure," Dimon told CNBC in Davos. He added that "they are in the top 10% or 15%" of historical valuations.

The JPMorgan Chase chief executive, who had warned of the negative effect of tariffs, said they could be justified for national security reasons.

JPMorgan Chase CEO Jamie Dimon on Wednesday said the U.S. stock market is overvalued and explained why he’s a little more pessimistic about the global economy than your average Wall Street insider.

“If it’s a little inflationary, but it’s good for national security, so be it. I mean, get over it,” JPMorgan Chase CEO Jamie Dimon told CNBC on Wednesday from the World Economic Forum in Switzerland. “National security trumps a little bit more inflation.”

At the World Economic Forum in Davos, Switzerland on Wednesday, JPMorgan Chase CEO Jamie Dimon cautioned investors on the risks of increased deficit spending, sticky inflation and geopolitical

Experts have warned that Trump’s tariffs, which he’s said could also include a 10 percent tariff on all foreign goods, could send domestic inflation through the roof and trigger trade wars abroad. For private sector leaders, the cost of doing business would likely rise—increases which would then probably be passed down to consumers, too.

Inflation worries remain despite strong earnings as JPMorgan Chase’s Jamie Dimon and David Solomon of Goldman Sachs weigh risks.

The JPMorgan CEO said that even if the tariffs prompt a global trade war and reignite inflation in the U.S., they could protect American interests.

Jamie Dimon, the billionaire head of the U.S.’ biggest bank, lauded Tesla CEO Elon Musk, the richest man on the planet and a key part of President Donald Trump’s administration, on Wednesday, squashing a long-running beef between the billionaires’ companies as Dimon becomes the latest billionaire warming to Musk or Trump.