Reuters
The chief executive of JPMorgan Chase & Co. JPM.N, the biggest U.S. bank, cautioned against declaring victory against inflation too early, warning the Federal Reserve could raise interest rates above the 5% mark if higher prices ended up “sticky.”
Dimon’s warning came after Federal Reserve officials said more rate rises are on the cards, although none were ready to suggest that January’s hot jobs report could push them back to a more aggressive monetary policy stance.
In reference to inflation, Dimon said “people should take a deep breath on this one before they declare victory because a month’s number looked good.”
“It’s perfectly reasonable for the Fed to go to 5% and wait a while,” Dimon said.