Jamie Dimon Takes High View of Fed Hikes: ‘It Could Be Six or Seven’
- Harks back to Volcker era when much bigger hikes took place
- JPMorgan boss expects more tightening than market’s pricing in
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The head of Wall Street’s biggest bank is among those bracing for the possibility that the Federal Reserve will need to lift interest rates more than the market is currently pricing in, warning that policy tightening won’t necessarily be as “sweet and gentle” as some might expect.
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon told analysts on Friday that the Fed could lift its benchmark interest rate as many as seven times to fight rising inflation, although he didn’t specify how quickly that might happen.