Jamie Dimon said significant price pressures are still influencing the US economy and may mean interest rates will be higher for longer than many investors are expecting.
“A lot of inflationary forces are in front of us,” the JPMorgan Chase & Co. chief executive officer said in an interview with Bloomberg's Francine Lacqua
Dimon cited costs linked to the green economy, re-militarization, infrastructure spending and large fiscal deficits. Still, geopolitics could be the determining factor in steering the economy next year, he said.
Dimon has been warning for months that inflation could be stickier than many investors are predicting, and wrote in his annual letter to shareholders that his bank is prepared for interest rates ranging from 2% to 8% “or even more.”
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