Jamie Dimon, CEO of JP Morgan Chase, believes that Europe is probably going into a recession which may create huge amounts of volatility in global markets.
"One thing I can predict with certainty is volatility in the markets", he said in an interview to CNBC-TV18.
Talking about the dollar, he is of the view that the US currency may not strengthen further but will also not weaken from the current levels.
Earlier today, the dollar surged to a fresh two-decade high against major peers after the US Federal Reserve raised interest rates and forecast more hikes ahead than investors had expected.
Further, Dimon remains optimistic on the Indian economy and said the impact of rate hikes by the US central bank on India will be relatively less compared to other global economies."They'll (interest rates) have much more effect on growth stocks and value stocks but less of effect in India because in India, you have a lot of growth stocks, your growth prospects are so good for so long, it's just going to have a different effect on people investing long term money in India," he explained.