Jamie Dimon, CEO of JPMorgan, stated in an interview with CNBC that the Federal Reserve is still working to contain inflation. He expressed respect for Fed Chair Jerome Powell but admitted that they had lost some control over inflation.
Interest Rates Could Remain Higher for Longer
Dimon also shared his expectations that interest rates may remain elevated for an extended period, as the central bank may need more time to reach its goal of 2% inflation. Despite this, he remains optimistic about the current state of the US economy, with consumers having plenty of money and job opportunities available.
Dimon's Views on US Economy
Despite his positive outlook on the economy, Dimon acknowledged that there are still uncertainties in the future. These comments contrast his remarks from October and December, where he expressed concern about an impending recession.
The Federal Reserve declined to comment on Dimon's statements.