- The U.S. Federal Reserve has decided to cut its interest rates in June as a majority of economists advocated for it.
- JPMorgan CEO Jamie Dimon urges the Fed to wait past June to provide more time for the central bank.
- Dimon predicted a 65% chance for a global recession while he kept silent about the possibility of an impending stagflation.
A recent Reuters report announced that the U.S. Federal Reserve has decided to cut its interest rate in June, with a majority of economists advocating for it. The decision is based on the central bank’s insistence on waiting longer for more data to confirm whether inflation is heading towards its target of 2%.
Meanwhile, JPMorgan CEO Jamie Dimon recommended the Fed wait past June to provide adequate time for the central bank to secure its inflation-fighting credibility. Adding that he would have waited if he were in their position, Dimon stated,
“I think they have to be data-dependent… You can always cut it quickly and dramatically. Their credibility is a little bit at stake here. I would even wait past June and let it all sort it out.”
Commenting on the current situation of the global market, he predicted a…
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