Jamie Dimon says a soft landing is possible, but 'scary stuff' is ahead

• JPMorgan CEO Jamie Dimon thinks a soft landing is still possible but there are several uncertainties.
• "Out in front of us, there's some scary stuff. And you and I know there's always uncertainty," he told CNBC.

JPMorgan CEO Jamie Dimon said he thinks a soft landing is still possible but warned the economy faces several uncertainties.

In a CNBC interview, he added that America's biggest bank has a recession playbook but is not putting it into action yet.

"The US economy right now is doing quite well. Consumers have a lot of money, they're spending it, jobs are plentiful," Dimon said.

It's also "fabulous" that wages are going up for workers on the low end, after decades of seeing little to no real increases in pay, he added.

"It's wonderful. That's today. Out in front of us, there's some scary stuff, and you and I know there's always uncertainty," Dimon said. "That's a normal thing."

Still, he acknowledged that the level of economic uncertainty is higher than usual, amid potential headwinds like the Federal Reserve's quantitative tightening and "Russia, Ukraine, oil, gas, war, migration, trade, China."

And it could be a while before the US sees the return of a 2% inflation rate, he said. January consumer inflation clocked in at an annual rate of 6.4%.

The Federal Reserve may have lost control of inflation, Dimon noted, with massive government borrowing and spending — such as in the form of green investment and the Infrastructure Act — adding to an inflationary environment.

"I think we should all get adjusted to that. You know, we'll have more normalization in interest rates, and we'll be fine," he said. "Just remember: America's the most prosperous place on the planet. We'll be fine."