JPMorgan Chase CEO Jamie Dimon warns interest rates could stay high: ‘A lot of inflationary forces in front of us’
NY Post
Wall Street may be ready to declare victory over sky-high inflation, but Jamie Dimon thinks the battle is far from over.
The JPMorgan Chase boss said investors need to gird for a prolonged period of high interest rates due to price pressures that have been exacerbated by rising costs, increased defense spending, ballooning fiscal deficits and a burgeoning national debt.
“There are a lot of inflationary forces in front of us,” Dimon told Bloomberg Television on Thursday.
“The underlying inflation may not go away the way people expect it to.”
Dimon made the comments at around the same time that Dow Jones Industrial Average briefly crossed the 40,000-point threshold for the first time ever before retreating to just below the number at around 1:00 p.m. Eastern time.
The Dow has risen an eye-popping 6% since Jan. 1 while the S&P 500 has surged by more than 12% during the same period.
