A great consumer staple option would be the Consumer Staples Select Sector SDPR Fund (NYSEMKT: XLP). Jamie Dimon is the CEO of the banking giant JPMorgan Chase (NYSE: JPM), and his expertise in the world of finance gained from over four decades of experience gives him some level of wisdom about the current economic situation. If Dimon and other economists are correct about the future, then investors should adequately prepare by rebalancing their portfolio and prioritizing allocation to companies and sectors that perform better in inflationary and recessionary environments.