{"id":71969,"date":"2024-07-13T03:00:20","date_gmt":"2024-07-13T03:00:20","guid":{"rendered":"http:\/\/guid_108005140"},"modified":"2024-07-13T03:00:20","modified_gmt":"2024-07-13T03:00:20","slug":"jpmorgans-jamie-dimon-warns-inflation-and-interest-rates-may-stay-higher","status":"publish","type":"post","link":"https:\/\/wp.timesamerica.net\/jpmorgans-jamie-dimon-warns-inflation-and-interest-rates-may-stay-higher\/","title":{"rendered":"JPMorgan&#8217;s Jamie Dimon warns inflation and interest rates may stay higher"},"content":{"rendered":"\n<div><img decoding=\"async\" src=\"https:\/\/wp.timesamerica.net\/wp-content\/uploads\/2024\/07\/jpmorgans-jamie-dimon-warns-inflation-and-interest-rates-may-stay-higher.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"RelatedQuotes-relatedQuotes\" id=\"RegularArticle-RelatedQuotes\">\n<div class=\"RelatedQuotes-quotesContainer\">\n<div class=\"RelatedQuotes-titleAndTime undefined\">\n<p class=\"RelatedQuotes-text\">In this article<\/p>\n<\/div>\n<ul class=\"RelatedQuotes-list\">\n<li class=\"QuoteItem-item\" aria-label=\"Quote for null\"><span class=\"waslinkname\"><span class=\"QuoteItem-symbol\">JPM<\/span><\/span><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"RegularArticle-WatchlistDropdown\" data-analytics-id=\"RegularArticle-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/li>\n<\/ul>\n<\/div>\n<div class=\"RelatedQuotes-cfaButtonContainer\"><button id=\"ArticlePageTickerCreateAccountButton\" class=\"CreateFreeAccountButton-buttonContainer\"><span class=\"CreateFreeAccountButton-buttonText\"><span>Follow your favorite stocks<\/span><span class=\"CreateFreeAccountButton-buttonTextBold\">CREATE FREE ACCOUNT<\/span><\/span><\/button><\/div>\n<\/div>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107361271\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div class=\"InlineImage-imagePlaceholder\" style=\"padding-bottom:55.55555555555556%\">\n<div style=\"height:100%\" class=\"lazyload-placeholder\"><\/div>\n<\/div>\n<div>\n<div class=\"InlineImage-imageEmbedCaption\">Jamie Dimon, President &amp; CEO,Chairman &amp; CEO JPMorgan Chase,&nbsp;speaking on CNBC&#8217;s Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. <\/div>\n<div class=\"InlineImage-imageEmbedCredit\">Adam Galici | CNBC<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p><span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\"><span class=\"waslinkname\">JPMorgan Chase<\/span><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span> CEO <span class=\"waslinkname\">Jamie Dimon<\/span> on Friday issued another warning about inflation despite recent signs of easing in price pressures.<\/p>\n<p>&#8220;There has been some progress bringing inflation down, but there are still multiple inflationary forces in front of us: large fiscal deficits, infrastructure needs, restructuring of trade and remilitarization of the world,&#8221; Dimon said in a statement along with the bank&#8217;s <span class=\"waslinkname\">second-quarter results<\/span>. &#8220;Therefore, inflation and interest rates may stay higher than the market expects.&#8221;<\/p>\n<div style=\"height:100%\" class=\"lazyload-placeholder\"><\/div>\n<p>His comments came after this week&#8217;s data showed <span class=\"waslinkname\">the monthly inflation rate dipped in June<\/span> for the first time in more than four years, which fueled bets that the Federal Reserve could cut rates soon.<\/p>\n<p>The&nbsp;<span class=\"waslinkname\">consumer price index<\/span>, a broad measure of the costs for goods and services across the U.S. economy, declined 0.1% in June from May, putting the 12-month rate at 3%, around its lowest level in more than three years.<\/p>\n<p>Fed Chairman <span class=\"waslinkname\">Jerome Powell<\/span> earlier this week <span class=\"waslinkname\">expressed concern<\/span> that holding interest rates too high for too long could jeopardize economic growth, teasing that rate reductions could be on the horizon as long as inflation continues to show progress.<\/p>\n<p>Dimon joined many economists in sounding the alarm on burgeoning U.S. debt and deficits. The federal government has so far spent $855 billion more than it has collected in the 2024 fiscal year. For fiscal 2023, the government&#8217;s deficit spending came in at $1.7 trillion.<\/p>\n<\/div>\n<div class=\"group\">\n<div class=\"RelatedContent-relatedContent\" id=\"RegularArticle-RelatedContent-1\">\n<div class=\"RelatedContent-container\">\n<div class=\"RelatedContent-nonCollapsibleContent\">\n<h2 class=\"RelatedContent-header\">Don\u2019t miss these insights from CNBC PRO<\/h2>\n<div class=\"group\">\n<ul>\n<li><span class=\"waslinkname\">Oppenheimer raises S&amp;P 500 target to 5,900, second highest on Wall Street<\/span><\/li>\n<li><span class=\"waslinkname\">Warren Buffett on his unwavering faith in the country \u2014 &#8216;Never bet against America.&#8217;<\/span><\/li>\n<li><span class=\"waslinkname\">Jefferies says shares of this lesser known global delivery firm are set to soar over 125%<\/span><\/li>\n<li><span class=\"waslinkname\">These types of ETFs could prove winners in the second half<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"ArticleBody-MobileAdhesion\" class=\"MobileAdhesion-container\" data-module=\"mps-slot\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In this article JPM Follow your favorite stocksCREATE FREE ACCOUNT Jamie Dimon, President &amp; CEO,Chairman &amp; CEO JPMorgan Chase,&nbsp;speaking on CNBC&#8217;s Squawk Box at the World Economic Forum Annual Meeting in Davos, Switzerland on Jan. 17th, 2024. Adam Galici | CNBC JPMorgan Chase CEO Jamie Dimon on Friday issued another warning about inflation despite recent &hellip;<\/p>\n","protected":false},"author":1,"featured_media":71970,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-71969","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bussiness","has-thumb","has-featured"],"_links":{"self":[{"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/posts\/71969"}],"collection":[{"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/comments?post=71969"}],"version-history":[{"count":0,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/posts\/71969\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/media\/71970"}],"wp:attachment":[{"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/media?parent=71969"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/categories?post=71969"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wp.timesamerica.net\/wp-json\/wp\/v2\/tags?post=71969"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}