Jamie Dimon says rates will rise above 5% because there is still 'a lot of underlying inflation'
Publishing timestamp: 2023-01-19 08:49:53
Summary
JPMorgan Chase CEO Jamie Dimon believes interest rates could go higher than what Federal Reserve currently projects due to stubbornly elevated inflation. He believes recent easing of inflation is due to temporary factors such as pullback in oil prices and slowdown in China due to Covid pandemic. If U.S. suffers mild recession, interest rates will rise to 6%. He added that it's hard for anyone to predict economic downturns.
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