JPMorgan Chase CEO Jamie Dimon said on Wednesday that he still thinks a recession is the most likely scenario for the U.S. economy, saying that the odds of a “soft landing” for the economy are approximately 35-40%.

When asked by CNBC’s Leslie Picker if he changed his mind since February, when he said that markets were too optimistic on recession risks, Dimon said that the odds are about the same now as then.

“There’s a lot of uncertainty out there. I’ve always pointed to geopolitics, housing, the deficits, the spending, the quantitative tightening, the elections, all these things cause some consternation in markets,” Dimon said.

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