JPMorgan CEO says too early to declare victory against inflation (3 min read)
JPMorgan CEO, Jamie Dimon, warns against declaring victory over inflation too soon, as the Fed could raise interest rates above 5% if higher prices persist. US Inflation in December has fallen to 5%, but it’s still above the 2% target. Dimon said that if inflation stays at 3.5% to 4%, rates may have to go even higher, which will affect short and longer rates. He also warns that stricter regulation of credit card fees may lead to less credit being extended, and that a US debt default could be catastrophic for the country.