JPMorgan's Jamie Dimon says interest rates 'may go up more,' says he hopes for soft landing
Simplify Asset Management's Mike Green discusses the state of the economy on 'Making Money with Charles Payne.'
JPMorgan Chase CEO Jamie Dimon recently weighed in on the path U.S. interest rates could take in the future.
He told The Times of India interest rates «may go up more» but added that he «hope[s] and pray[s] there is a soft landing,» according to an article published Tuesday.
The range of the Federal Reserve’s benchmark interest rate sits at 5.25% to 5.5%, where it has hovered since late July, and the Fed Reserve elected to maintain that rate last week.
Jamie Dimon, billionaire and CEO of JPMorgan Chase after a Bloomberg Television interview at the JPMorgan Global Markets Conference in Paris May 11, 2023. (Cyril Marcilhacy/Bloomberg via Getty Images / Getty Images)
The JPMorgan Chase CEO was asked about what risks the U.S. faces with an economic hard landing.
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The Times of India quoted him as saying «no one knows» the chances and that «there is a range of outcomes.» He pointed to potential factors that include «Ukraine, oil, gas, war, Europe.»
«I would be cautious. I think we are feeling pretty good because of all the monetary and fiscal stimulus,» he told the outlet. «But it may be a little more of a sugar high. We have to deal with all these serious issues over time, and your deficits can’t continue forever.»
The question of whether the U.S. economy will see a soft or hard landing has repeatedly surfaced over the past year and a half. It has done so as the Federal Reserve has tried to lower inflation.
Jamie Dimon, chairman and CEO of JPMorgan Chase, during a House Financial Services Committee hearing in Washington, D.C.,
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