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US-Iran war: JPMorgan CEO Jamie Dimon says inflation risk limited, warns of cyber threatsJamie Dimon warns of rising cyber and terrorist attack risks after US and Israel strikes on Iran, urging vigilance as banks may be targets. Markets remain stable but retaliation is a key concern.By Bhupendra Paintola  March 3, 2026, 2:38:55 AM IST (Published)3 Min Read

JPMorgan Chase CEO Jamie Dimon on Monday (March 2) said he expects a rise in cyber or terrorist attacks globally following the US and Israel’s weekend strikes on Iran, cautioning that banks could be among the targets.

In a CNBC interview with Leslie Picker from JPMorgan’s Global Leveraged Finance Conference in Miami Beach, Dimon said the immediate priority was safety. “My heart goes out, and we’re praying for all our soldiers and sailors overseas and our employees,” he said, noting the bank has staff in affected cities.

On the broader geopolitical picture, Dimon struck a measured tone. He said there was “risk associated with this,” but also expressed hope that the campaign could raise the odds of “a long, just peace in the Middle East.” He added that markets so far were “not dramatic,” and that the economy is “not often driven by something like that unless it’s prolonged.”

The bigger near-term concern, he suggested, is retaliation.

“The most important thing is that we keep the Western world free and safe for democracy,” Dimon said. “But as a corollary to that, you’ve got to expect there’ll be cyberattacks or terrorist attacks, either here or around the world. Banks may be targets.”

He said JPMorgan spends heavily on cyber defences and treats cyber risk as one of the highest risks banks face. “We always try to be prepared for that. We never try to predict when, why or where,” he said.

On inflation, Dimon said the current spike in oil prices is unlikely to trigger a sustained surge, unless the conflict drags on. “This right now will increase gas prices a little bit,” he said. “If it’s not prolonged, it’s not going to be a major inflationary hit. If it went on for a long time, that would be different.”

His comments come as President Donald Trump said the conflict could last four to five weeks, though it might go on “far longer than that.”

: Trump says US's Iran operation ahead of schedule, can extend beyond projected 4-5 weeks if needed

Air travel across the Middle East has been disrupted, oil prices have surged on supply concerns, and gold has climbed as investors seek safety. Equity markets in the US, Europe and Asia have traded lower amid the uncertainty.

Dimon also used the moment to reiterate longer-term risks in credit markets. While households and corporations are “in very good shape,” he warned that governments, particularly the US, carry historically high debt levels.

Asset prices are elevated, and credit spreads are tight, he said, adding that when a cycle turns, it could be “worse than a normal one,” driven in part by complacency and pockets of weak underwriting.

For now, though, his message was restrained- markets can absorb shocks, but retaliation, especially in cyberspace, is a risk that cannot be ignored.

Continue Reading(Edited by : Jomy Jos Pullokaran)Tagsiran crisisJamie DimonJP MorganUS iran dealwar