MEXCJPMorgan CEO Hints More Fed Rate Hike Amid Debt Ceiling Crisis
Fed Rate Hike News: Jamie Dimon, chief executive officer at JPMorgan Chase & Co warned the business to be prepared for a further Federal Reserve’s interest rate hike. Diamon’s big advice comes in when the deal on the crucial debt ceiling deal between U.S. President Joe Biden and Speaker Kevin McCarthy is set to be voted in the House of Representatives.
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JPMorgan CEO Cautious Over Fed Hike
JPMorgan Chase CEO in a recent interaction with Bloomberg shared his take over the role of artificial intelligence, ongoing debt limit deal and economic inflation.
Dimon stated that in his view it is time for the Federal Reserve to hit a pause on hiking interest rates. The market has dealt with several big increases. However, there is a possibility that the authority is going to raise a little more from here.
He directed that the people should be prepared for the Fed rates to go up a little more as inflation is proving hard to pull. JPMorgan CEO mentioned that it is just a matter of managing a business whether it is a financial company, real estate company, or more. It is essential to be prepared for the volatility which might be created by quantitative tightening. Read More Fed Rate Hike News Here…
Top Fed Official Declines All Suggestions
According to a report, Loretta Mester, president of the Cleveland Fed refused to comply with suggestions that asked for a no interest Fed rate hike in June. She stated that there is no compelling reason to wait in order to impose another hike.
The top Federal Reserve official highlighted the ongoing debt ceiling deal as a big piece of uncertainty for the economy. However, she added that the only reason for skipping a hike would be when tightening policies may lead to extreme market volatility.
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