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Jamie Dimon Takes High View of Fed Hikes: ‘It Could Be Six or Seven’

EconomyJan 14, 2022 10:45AM ET
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© Bloomberg. Jamie Dimon

(Bloomberg) -- The Federal Reserve might raise its benchmark interest rate as many as seven times to fight rising inflation, JPMorgan Chase & Co. (NYSE:JPM) Chief Executive Officer Jamie Dimon said.

“My view is a pretty good chance there will be more than four,” Dimon said Friday on a conference call with analysts after the biggest U.S. bank released its fourth-quarter results. “It could be six or seven.”

Fed officials are signaling higher borrowing costs are in the works amid the highest inflation in nearly four decades. Money markets are wagering on six 25-basis-point hikes in the next two years -- before the policy rate plateaus and dips slightly in 2025.

Dimon said it would be a mistake to assume the economy won’t grow during a period in which interest rates are increasing.

©2022 Bloomberg L.P.

Jamie Dimon Takes High View of Fed Hikes: ‘It Could Be Six or Seven’
 

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Comments (2)
Russ Jabara
Russ Jabara Jan 14, 2022 12:50PM ET
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BS- great way for Mr Dimon to temporarily knock the market down and simultaneously set his stock up for major increases. I'm a little cynical these days
Tom Sc
Tom Sc Jan 14, 2022 11:09AM ET
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if they are going to do this they would take the opportunity to do it this month, quarter point. but they won't. they wont even stop asset purchases this month. so everyone is yelling fire but everyone is just pouring more fuel on it in the meantime?
Alan Rice
Alan Rice Jan 14, 2022 11:09AM ET
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(Fed interest rate hikes can be as much as 100 bps/per hike,, historically. Keep that in mind.)
 
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