JPMorgan CEO Dimon: There are many inflationary risks ahead
JPMorgan CEO Jamie Dimon said serious price pressures were still affecting the US economy and that could mean interest rates will remain high for longer than many investors expect.
“There are a lot of inflationary risks ahead of us,” JPMorgan CEO Jamie Dimon said in an interview with Bloomberg Television.
Dimon noted the costs associated with the green economy, increased military spending, infrastructure spending and large fiscal deficits.
Saying that geopolitical conditions could be the determining factor in guiding the economy next year, Dimon said, “Serious price pressures are still affecting the US economy, and this may mean that interest rates will remain high for longer than many investors expect.”
Dimon has warned for months that inflation could be longer-lasting than many investors predict, and in his annual letter to shareholders he wrote that his bank was prepared for interest rates that could range from 2 percent to 8 percent, or even more.