JPMorgan Chase’s chief has warned that inflation has not clearly been defeated after the Federal Reserve’s latest rate increase.
Speaking after policymakers raised rates by 25 basis points and projected at least one more hike in 2026, Jamie Dimon said the fight is unfinished, Yahoo Finance reports.
“I’m sympathetic to those who pay a higher price, but it’s not clear to me it’s over yet. It’s not clear to me we’ve slayed inflation.”
Headline inflation stood at 3.4% in August, in line with estimates.
Dimon pointed to persistent price pressures, global deficits, and huge capital demand tied to artificial intelligence, remilitarization, and infrastructure spending.
He also highlighted positives including low unemployment, corporate profitability, and rising business formation.
“There are a lot of things out there which are quite dangerous. And how they sort out, I don’t know.”
On the labor market, he stressed the stakes for credit and consumer spending.
“It’s when unemployment goes up that you have consumer credit losses, corporate credit losses, people cut back on spending. That is the single most important thing for everybody.”
Dimon said every business should be prepared for volatility in interest rates.
Stocks slipped as the 10-year yield topped 5% again this week.
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