JPMorgan CEO Jamie Dimon said in his April 6 shareholder letter that geopolitical conflict is the biggest global risk and warned that rising tensions in the Middle East could push energy prices, inflation and interest rates higher. He also outlined a security and resilience investment plan exceeding $1 trillion. In addition, Dimon flagged transparency risks in private credit markets, though he said broader systemic fallout is less likely. The comments reinforce his earlier warning that war-related pressures could keep rates elevated.