JPMorgan Chase CEO Jamie Dimon said Wednesday that he and Tesla CEO Elon Musk have “hugged it out” and resolved their differences, after Dimon’s bank sued the tech billionaire’s electric vehicle

JPMorgan Chase CEO Jamie Dimon on Wednesday said the U.S. stock market is overvalued and explained why he’s a little more pessimistic about the global economy than your average Wall Street insider.

The JPMorgan Chase chief executive, who had warned of the negative effect of tariffs, said they could be justified for national security reasons.

Jamie Dimon, the billionaire head of the U.S.’ biggest bank, lauded Tesla CEO Elon Musk, the richest man on the planet and a key part of President Donald Trump’s administration, on Wednesday, squashing a long-running beef between the billionaires’ companies as Dimon becomes the latest billionaire warming to Musk or Trump.

Experts have warned that Trump’s tariffs, which he’s said could also include a 10 percent tariff on all foreign goods, could send domestic inflation through the roof and trigger trade wars abroad. For private sector leaders, the cost of doing business would likely rise—increases which would then probably be passed down to consumers, too.

CEO Jamie Dimon praised Tesla Inc (NASDAQ:TSLA) CEO Elon Musk on Wednesday and indicated that the two billionaires have patched holes in their relationship.

JPMorgan Chase (JPM) chief Jamie Dimon said the use of tariffs, an economic weapon, may trigger some inflation, but national security is more important than "a bit more inflation," according to a media report.

JPMorgan Chase CEO Jamie Dimon on Wednesday downplayed concerns about new tariffs from the Trump administration: 'If it's a little inflationary, but it's good for national security, so be it.'

The U.N. chief ratcheted up his warning about climate change and said the world’s thirst for fossil fuels is a “Frankenstein monster” that spares no one, while calling for greater attention to risks posed by artificial intelligence if its ascent goes ungoverned.

JPMorgan CEO Jamie Dimon sounded the alarm on stocks in an interview today at the World Economic Forum in Davos, Switzerland, saying that the market looks overvalued. "Asset prices are kind of inflated, by any measure," Dimon told CNBC in Davos. He added that "they are in the top 10% or 15%" of historical valuations.

JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said there are signs that the US stock market is overheated.