JPMorgan’s Dimon says Fed rate cut won’t be ‘Earth-shattering’

Published On Sep 17, 2024, 5:56 PM

JPMorgan Chase CEO Jamie Dimon stated that a potential cut in interest rates by the Federal Reserve, whether by 25 or 50 basis points, will not significantly impact the economy. He emphasized that while such cuts are necessary, they are minor compared to the broader economic factors at play. Dimon also raised concerns about ongoing geopolitical issues, like conflicts in Ukraine and the Middle East, which he views as more pressing than rate adjustments. He believes inflation may remain persistent despite market expectations, reflecting a cautious outlook on economic conditions.