JPMorgan Chase & Co. (NYSE:JPM) CEO Jamie Dimon warned that if the U.S. loses its economic and military edge over the next 25 years, the dollar could lose its reserve-currency status.
Military and Economic Might
Speaking on “Firing Line” with Margaret Hoover, the Wall Street titan linked the dollar’s dominance directly to geopolitical strength. Dimon stressed that national security and financial supremacy are intrinsically tied.
“If America is in a weakened state… like if we’re not the strongest military in 25 years and the strongest economy, we won’t be the reserve currency either,” Dimon warned. “The world will be fragmented, and it’ll be very dangerous for us.”
He emphasized that preserving global democracy hinges on American deterrence. “To be safe, have the best military in the world. If you wanna have the best military in the world, you have the best economy in the world.”
Elevating National Interest
Dimon’s forecast comes amid JPMorgan‘s $1.5 trillion Security and Resiliency Initiative, aimed at bolstering U.S. domestic manufacturing, energy, and defense capabilities. He argues corporate America must partner with the government to address strategic vulnerabilities immediately.
“I think the national interest is more important than JP Morgan,” Dimon stated. “If our country doesn’t do well, JP Morgan will suffer.”
The CEO pointed to America’s reliance on potential adversaries for critical components like missile parts and rare earths as glaring weaknesses, urging a unified response to rebuild domestic capacity.
Defending the Free World
Dimon views maintaining the dollar’s reserve status and America’s military edge as non-negotiable requirements for long-term global stability.
“I do believe that America is what makes the world safe and secure for democracy,” he noted. Warning that time is running out to correct course, Dimon concluded with a sobering reality about military and economic preparedness: “Fighting a war is very expensive. Losing the war is the most expensive.”
How Has DXY Performed In 2026?
US Dollar Index has risen 1.42% year-to-date, down 1.28% over the last month, and unchanged over the year. At the last check, the U.S. Dollar Index spot was 0.16% higher at the 99.6950 level.
Here’s how U.S. Dollar-linked ETFs have performed.
| Dollar ETFs | Six-Month Performance | YTD Performance | One-Year Performance |
| Invesco DB U.S. Dollar Index Bullish Fund (NYSE:UUP) | 3.92% | 3.85% | 2.52% |
| WisdomTree Bloomberg U.S. Dollar Bullish Fund (NYSE:USDU) | 2.77% | 2.13% | 0.38% |
| Invesco DB U.S. Dollar Index Bearish Fund (NYSE:UDN) | -1.03% | -0.22% | -2.67% |
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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