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14 October 2022 | Other

JPMorgan CEO warns of likely U.S. rate hike above 4.5%

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With inflation still elevated and a recession coming, the U.S. interest rate could probably reach not only 4.5%, but become even higher. Such a measure is necessary in order to cope with inflation. JPMorgan Chase & Co CEO Jamie Dimon announced this at a meeting of the International Institute of Finance on Thursday.

Dimon also predicts that for another 9 months the financial health of consumers can be assessed as good, since at the moment money is actively spent. But after 9 months, the effects of inflation are likely to hit consumers, and until then the economy looks stable.

Moreover, Dimon stated that energy supply problems, quantitative tightening policies and shocks in general could lead to instability and cause a recession in the future.

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