Dimon Warns World May Not Be Ready for Fed at 7%
By Yi Wei Wong and Swati Pandey
September 26, 2023 at 8:36 AM GMT+8
Updated on
September 26, 2023 at 1:44 PM GMT+8
The world may not be prepared for a worst-case scenario of Federal Reserve benchmark interest rates hitting 7% along with stagflation, JPMorgan Chase & Co. CEO Jamie Dimon said in an interview with the Times of India.
“If they are going to have lower volumes and higher rates, there will be stress in the system,” Dimon said while visiting Mumbai for a JPMorgan investor summit. “Warren Buffett says you find out who is swimming naked when the tide goes out. That will be the tide going out.”
By Yi Wei Wong and Swati Pandey
September 26, 2023 at 8:36 AM GMT+8
Updated on
September 26, 2023 at 1:44 PM GMT+8
The world may not be prepared for a worst-case scenario of Federal Reserve benchmark interest rates hitting 7% along with stagflation, JPMorgan Chase & Co. CEO Jamie Dimon said in an interview with the Times of India.
“If they are going to have lower volumes and higher rates, there will be stress in the system,” Dimon said while visiting Mumbai for a JPMorgan investor summit. “Warren Buffett says you find out who is swimming naked when the tide goes out. That will be the tide going out.”