JPMorgan Chase CEO Jamie Dimon says one of the bank's economists is putting the odds of a recession at 50-50.

Dimon told Fox Business earlier this week that a recession was probable in the face of President Trump's tariff campaign and its fallout for global trade.

Wall Street analysts are already pulling back their earnings estimates for the S&P 500 and would continue to do so if the economy slows further, Dimon says in an analyst call.

Companies reporting 1Q results in the coming weeks will likely withdraw their guidance as they await clarity on the tariff situation, Dimon says.