JPMorgan Chase CEO Jamie Dimon kicked off third-quarter earnings with a grim warning to investors. “Now may be the most dangerous time the world has seen in decades,” Dimon wrote in the company’s report.

The wars in Ukraine, Israel and Gaza “may have far-reaching impacts on energy and food markets, global trade and geopolitical relationships,” Dimon wrote.

In JPMorgan Chase’s earnings call Friday morning, Dimon said bank executives throughout the U.S. are “climbing the wall of worry,” a reference to resilient markets in times of economic uncertainty, CNN Business reports.

“And we should,” Dimon continued. “That’s kind of our job, to be prepared for potential outcomes you don’t expect.”

The JPMorgan chief said bankers need to remain vigilant about the unknown: “We do a hundred stress tests a week. Usually, geopolitics presents itself as a deep recession or a mild recession — and markets doing well is not a reason to say they will continue to do well.”

JPMorgan economists are now predicting that the U.S. will achieve a soft landing, whereby it skirts a recession and high unemployment.

“Currently, U.S. consumers and businesses remain generally healthy,” Dimon said. “I’m less concerned about the economic effect that, obviously, the geopolitical.”

Inflation, however, is bound to remain high for some time due to tight labor markets and high government debt, Dimon said. Interest rates, inevitably, will rise higher, he added.

In previous interviews, Dimon has said the Fed Funds Rate could increase by another 1.5 percentage points to 7%. The rate is currently in the 5.25% to 5.5% range.

JPMorgan Chase — with $3.9 trillion in assets the largest bank in the U.S., and a bellwether for the U.S. economy — reported earnings of $4.33 per share, beating analysts' $3.90 predictions.

JPMorgan's profit rose in the third quarter as it reaped a windfall from surging interest payments and the acquisition of failed First Republic Bank.

The Federal Reserve's interest-rate increases have bolstered banks' net interest income (NII), or the difference between what they earn on loans and pay out on deposits.

NII rose 30% to $22.9 billion, the bank said.