Saturday, August 2, 2025

Latest

Jamie Dimon: Fed Will Need to Raise Rates Beyond 4.5% to Cool Inflation

JPMorgan CEO Jamie Dimon provided a not-so-rosy outlook on the US economy, and slams the Biden administration for begging Saudi Arabia for oil while flip-flopping on Venezuela foreign policy.

According to Dimon, the inflation problem in the US is so stubborn the Fed will have to raise its benchmark rate above the 4% to 4.5% range consensus estimates are calling for, which will likely bring on a recession in the coming months. “I don’t know if it could be a soft landing— I don’t think so, but it might,” he said while speaking at a Washington industry conference as cited by Business Insider. The latest BLS CPI print showed inflation surpassed expectations again, rising 0.4% to an annualized 8.2% in September.

Dimon doesn’t believe the US economy will be able to withstand the entirety of the Fed’s forthcoming hawkish policies, and will likely eclipse into a recession within the next six to nine months, bringing with it substantial market declines. “In a tough recession, you could expect the market to go down another 20% to 30%.” But, Dimon also insisted that the American consumer is still in a strong financial position, which he expects will remain the case for the next nine months— or whenever the recession hits.

Meanwhile, in a separate set of comments, the JPMorgan CEO expressed his discontent with the Biden administration, calling out the president for lacking a backbone when it comes to setting US energy policy. “President of the Unites States needs to stand up and say we may not meet our 2050 climate objectives because this is a fucking war,” he exclaimed. “Time to stop going hat in hand to Venezuela and Saudi and start pumping more oil & gas in the USA.”

Dimon also added that most investors “don’t give a shit” about ESGs, and markets shouldn’t “cede governance to do-gooder kids on a committee.”

Information for this briefing was found via Business Insider. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Royal Gold Goes Big | $3.5 Billion Sandstorm Acquisition

Why Gold’s Bull Run May Just Be Getting Started! | Peter Grandich

Tariffs Spark New Race for Critical Metals | Rob McEwen

Recommended

Tsunami Warnings Spread As Largest Quake Since 2011 Hits Russia

Northern Superior Intersects 1.75 g/t Gold Over 65.0 Metres At Philibert

Related News

Canadian Inflation Slows To 19-Month Low At 4.3%

The rate of increase in Canadian consumer prices has slowed down further, with the Consumer...

Tuesday, April 18, 2023, 09:44:57 AM

Jerome Powell: Rates Will Likely Be Higher Than Previously Expected

It appears Fed Chair Jerome Powell isn’t satisfied after all with the supposed “disinflationary process”...

Tuesday, March 7, 2023, 11:52:36 AM

ECB Unexpectedly Delivers 50 Basis-Point Rate Hike as Inflation Runs Amok

The European Central Bank yesterday delivered an unexpected rate hike of 50 basis points, marking...

Friday, July 22, 2022, 03:32:00 PM

Japan Government Announces Unprecedented Spending Package to Tackle Soaring Inflation, Weakening Yen

The Japanese government unveiled a new economic spending package to the tune of $270 billion,...

Monday, October 31, 2022, 11:21:00 AM

EU Inflation Accelerates to 3.4% in September as Energy Prices Soar to Record-Breaking Highs

Price pressures across the EU have jumped by the most in 13 years, as ongoing...

Sunday, October 3, 2021, 11:05:00 AM