Jamie Dimon, CEO of JPMorgan Chase & Co., has warned against declaring victory against inflation too soon, warning that the Federal Reserve could raise interest rates above 5% if higher prices end up “sticky,” Reuters reports.
That said, Reuters has interviewed JP Morgan’s Dimon and published his perspectives on everything from the Federal Reserve (Fed) to credit card rates.
Key comments
The people should take a deep breath on this one before declaring victory because the figures for a month looked good.
It’s perfectly reasonable let the Fed reach 5% and wait a while, but if inflation goes down to 3.5% or 4% and stays thereit may have to go above 5% and that could affect both short-term and long-term rates.
Tighter regulation of credit card fees could lead lenders to grant less credit.
A US debt default -prospect facing the country unless its debt ceiling is raised- would be potentially “catastrophic”.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
