Chinese 100, 50, 20, 10 and 5 yuan bills and Russian 1,000 and 100 ruble bills - Sputnik International, 1920
Get breaking stories and analysis on the global economy from Sputnik.

JPMorgan CEO Cautions Against Early Fed Celebrations Amid Inflation Fears

© Sputnik ScreenshotJPMorgan Chase CEO Jamie Dimon at Saudi Arabia’s Future Investment Initiative conference in Riyadh in October 2022.
JPMorgan Chase CEO Jamie Dimon at Saudi Arabia’s Future Investment Initiative conference in Riyadh in October 2022. - Sputnik International, 1920, 16.11.2023
The recently released US Consumer Price Index has elicited an upswing in the stock market, whereas long-term US Treasury bonds sustained a decline from their peak levels in sixteen years.
JPMorgan Chase's CEO Jamie Dimon told news sources that the Federal Reserve should persist in its efforts to curb inflation on Tuesday.
Dimon commented on the market's possible overreaction to the Consumer Price Index report, which indicated a softer-than-expected year-on-year increase of 3.2 percent in October. This report triggered a surge in major stock indices, with the S&P 500 and the Nasdaq Composite hitting two percent, while 10-year US Treasury bond yields continued declining from the peak levels seen in 16 years.
Highlighting the potential persistency of inflation, the JPMorgan Chase CEO pointed out its enduring nature despite the lower-than-expected figures. Since March 2022, the Fed has raised interest rates from nearly zero to around 5.5 percent to temper soaring prices, inching closer to its 2 percent inflation target.
However, Dimon, who previously predicted that interest rates might peak at seven percent, recommended a continued cautious approach. Given the significant increases already implemented, he acknowledged the Fed's current pause in rate hikes.
A U.S. flag waves outside the New York Stock Exchange, Monday, Jan. 24, 2022, in New York. Stocks are drifting between small gains and losses in the early going on Wall Street Tuesday, May 3, 2022 as investors await Wednesday's decision by the Federal Reserve on interest rates. The Fed is expected to raise its benchmark rate by twice the usual amount this week as it steps up its fight against inflation, which is at a four-decade high. - Sputnik International, 1920, 01.11.2023
Federal Reserve Maintains Record-High US Interest Rates for Fourth Consecutive Meeting
Nevertheless, Dimon emphasized the likelihood of needing further measures as part of a risk management strategy, considering ongoing economic changes and the impact of quantitative tightening.
Similarly, while speaking to media outlets, Citadel founder Ken Griffin expressed concerns about enduring inflation. Griffin underscored the Federal Reserve's need to stay committed to controlling inflation to maintain its credibility.
To participate in the discussion
log in or register
Заголовок открываемого материала