JPMorgan Chase CEO Jamie Dimon said Thursday he thought the financial market was underestimating the possibility of US interest rates climbing higher, a prospect he described as a “cause for concern.”
The Federal Reserve last month voted unanimously to leave rates unchanged. Fed Chair Jerome Powell said he expected “meaningful” inflation ahead as consumers pay more for goods due to the administration’s planned import tariffs.
President Trump has demanded immediate steep cuts, and called for Powell to resign.
JPMorgan Chase CEO said the financial market was underestimating the possibility of US interest rates climbing higher. REUTERS
Dimon said his view of the possibility of a further rate increase was “higher than anybody else.” “The market is pricing a 20% chance. I would price in a 40-50% chance,” the biggest US bank’s top boss told an event at Ireland’s foreign ministry.
“I would put that as a cause for concern.”