Steve Gelsi covers banking and cannabis as a Senior Reporter for MarketWatch.
“‘I think they did the right thing to raise rates rapidly and I think they’re kind of right to pause here a little bit and see what happens. But I suspect that they may not be done.Inflation is a little stickier than people think.And the fiscal and monetary stimulus of the last several years is more than people think. Unemployment is very low. We’ll see.’”
In an interview with Yahoo Finance, Dimon said it’s possible the U.S. central bank could raise rates by an additional 25, 50 or 75 basis points, but he said it’s not a prediction, just part of being ready for a range of outcomes as he runs the largest bank in the United States. If the yields on long bonds of 10-year duration or more rise to 7% of 8%, the bank is ready for that outcome, Dimon said.
“You’re gonna see quite a few people swimming naked,” Dimon said. “They can’t take the double whammy of stagflation or bad real estate or something like that. When I talk to small business, I tell people to be prepared.”“Study everything. Learn, learn, learn,” he said. “Don’t get rigid in how you think.”
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