The CEO of America's largest bank says he's preparing for a full range of economic scenarios, including one that economists think is an outcome worse than a recession.

Jamie Dimon told Bloomberg on Thursday that he believed stagflation — a dire combination of high inflation and low growth — was still on the table for the US economy.

"I think there's a chance you'll have stagflation," Dimon said, adding that he's not predicting such a scenario necessarily but that he wants to be prepared.