JPMorgan Chase CEO Jamie Dimon thinks the war on inflation is likely to get worse before it gets better-and that could mean interest rates rising to 7%, CNN reports.
JPMorgan Chase CEO Jamie Dimon thinks the war on inflation is likely to get worse before it gets better—and that could mean interest rates rising to 7%, CNN reports.
“If they are going to have lower volumes and higher rates, there will be stress in the system. We urge our clients to be prepared for that kind of stress,” Dimon said. Federal Reserve officials last week released projections that the Fed funds rate, now in the 5.25%-5.50% range, may be raised one more time this year before rate cuts next year.However, the futures market is not pricing in rates at the 7% rate let alone 6%.
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