© Reuters JPMorgan CEO Jamie Dimon signals inflation might not subside quickly
Jamie Dimon, CEO of JPMorgan Chase & Co. (NYSE:), expressed concerns about persistent inflation and the overreaction to short-term financial data in a recent interview. Speaking on El Financiero Bloomberg TV, Dimon warned that inflation might not subside quickly. The Federal Reserve is right to have paused hikes for now but “they might have to do a little bit more.”
Dimon’s comments followed an unexpected cooling in consumer-price increases, which sparked optimism that the Fed’s anti-inflation efforts are effective.
For over a year, Dimon has cautioned about major headwinds, such as quantitative tightening and global tensions, facing U.S. consumers and businesses, despite being in good shape now.
In September, he advised JPMorgan’s clients to be prepared for potential 7% interest rates and further Fed rate hikes.