Since taking over in 2006, Dimon, 68, has turned JPMorgan Chase - which has retail as well as investment arms - into the world's biggest and most powerful bank with $4 trillion in assets.
Dimon said on Tuesday at a fall conference from the Council of Institutional Investors in New York City: 'I would say the worst outcome is stagflation - recession, higher inflation.
'And by the way, I wouldn't take it off the table.'
On Wednesday, latest data from the Bureau of Labor Statistics revealed consumer prices were up 2.5 percent from a year earlier in August.
