The most likely scenario is that the US economy will remain stable and not enter a recession, but a recession is not out of the question. (Source: Getty Images)

In an interview with CNBC , Mr. Dimon said that people are reacting too strongly to the daily fluctuations of the market. These fluctuations sometimes have good reasons, but sometimes there is almost no reason.

Earlier this week, a weaker-than-expected jobs report, combined with some dismal tech results and investors cutting carry trades, produced the most volatile trading session in the stock market since the pandemic.

This downward trend continued in the trading session on August 7.

When asked whether the US economy had fallen into recession, Mr. Dimon said "not at all".

However, the CEO also made it clear that he believes the possibility of a recession is higher than the possibility of a soft landing.

He also touched on uncertainties in issues ranging from geopolitics and the US budget deficit, to the Federal Reserve's quantitative tightening policy, the housing market and the election.

Before Mr. Dimon, many Wall Street business leaders and economists also eased concerns that this week's market volatility reflected an unhealthy economy.

Goldman Sachs CEO David Solomon, for example, painted an even more optimistic picture.

In an interview with Bloomberg , he commented that the most likely possibility is that the US economy will continue to be stable and not in recession, but a recession is not impossible.

Previously, Goldman experts raised their forecast for the possibility of a US recession in the next 12 months from 15% to 25%.