Goldman President John Waldron made a statement echoing Jamie Dimon’s recent pessimistic tone about the future of the economy as it is impacted by a string of shocks.

Waldron said at an investor conference Thursday, “This is among — if not the most — complex, dynamic environments I’ve ever seen in my career. The confluence of the number of shocks to the system to me is unprecedented.”

On Wednesday Goldman CEO Jamie Dimon warned of a hurricane which was bearing down on the US economy amid an unprecedented succession of economic challenges.

Waldron said he’d didn’t want to be “using any weather analogies,” but noted how inflation, changing monetary policy and Russia’s invasion of Ukraine had the potential to do real damage to the economy.

Waldron said, “We expect there’s going to be tougher economic times ahead. “No question we are seeing a tougher capital-markets environment.”

He went on to express his surprise at the merger market’s resilience, “which is inconsistent with everything I’ve been talking about.” However he speculated, “That’s going to start to roll over because you see demand destruction, CEOs get a little less confident. That’s a reasonable expectation, but we’re watching that carefully as a signal.”

Although he has historically been extremely critical of the Federal Reserve, assailing its lack of independence and resolve to tackle inflation more aggressively, he struck a positive note on Goldman’s future, saying, “Whatever the economic environment is, we will do just fine.”