© Reuters. FILE PHOTO: JPMorgan Chase and Firm President and CEO Jamie Dimon testifies earlier than a Senate Banking, Housing, and City Affairs listening to on “Annual Oversight of the Nation’s Largest Banks”, on Capitol Hill in Washington, U.S., September 22, 2022. REUTER
NEW YORK (Reuters) – JPMorgan Chase & Co (NYSE:) Chief Government Officer Jamie Dimon on Thursday warned that persistent and elevated inflation may spur rates of interest to rise increased than 4.5%.
Customers are in sturdy monetary well being, and are nonetheless spending robustly, he informed attendees on the Institute of Worldwide Finance assembly in Washington.
“They will in all probability try this for one more 9 months earlier than inflation and spending catches up with them, which is why I feel you’re going to see a powerful economic system for some time.”
Thereafter, coverage makers might have to extend rates of interest to greater than 4.5% to tame inflation, he mentioned.
Originally published at Irvine News HQ
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