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HomeEconomyJPMorgan CEO Dimon sees rates above 5% - CNBC

JPMorgan CEO Dimon sees rates above 5% – CNBC

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(Reuters) – JPMorgan Chase & Co (NYSE: 267 JPM ) CEO Jamie Dimon In an interview with CNBC on Thursday, he said he expects rates to exceed 5% as inflation remains stubbornly high. “I actually think the rate could be higher than 5%….. .There’s a lot of underlying inflation that’s not going away so quickly,” Dimon said.

Federal Reserve officials forecast interest rates in December, currently at 4. %-4.% range, to

will rise to a little over 5% by the end and will probably stay there for a while.

Central bank policymakers said they would keep pushing for rate hikes to keep inflation in check even as the economy showed signs of slowing.

fell for the first time since 2019, plus hopes that inflation is now on a downward trend.

However, Dimon said the recent moderation in inflation comes from temporary factors such as a pullback in oil prices, as well as a report that China’s economy is slowing due to the pandemic. slow. 200

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