Jamie Dimon Says Fed May Need to Hike Interest Rates Beyond 5%

Jamie Dimon said the Federal Reserve’s rate hikes might need to go beyond what’s currently expected, but he’s in favor of a pause to see the full impact of last year’s increases.

There’s a 50% chance current expectations are correct in assuming the Fed will boost its benchmark rate to about 5%, and a 50% chance that the central bank will have to go to 6%, the JPMorgan Chase & Co. chief executive officer said in an interview aired Tuesday on Fox Business.