JPMorgan CEO Jamie Dimon: Central banks have been 'dead wrong'

JPMorgan Chase CEO Jamie Dimon on Tuesday warned against relying on the economic forecasts of central banks like the Federal Reserve, recalling how their projections were "100% dead wrong" in the not-so-distant past.

"Prepare for possibilities and probabilities, not calling one course of action, since I've never seen anyone call it," Dimon said during a panel discussion at the Future Investment Initiative (FII) conference in Saudi Arabia, per CNBC.

"I want to point out the central banks 18 months ago were 100% dead wrong," he continued, according to the outlet. "I would be quite cautious about what might happen next year."

The head of the largest bank in the U.S. went on to criticize "this omnipotent feeling that central banks and governments can manage through all this stuff," adding, "I'm cautious."