JPMorgan CEO says too early to declare victory against inflation, Fed may raise rates above 5%
JPMorgan Chase & Co’s CEO Jamie Dimon’s warning came after Federal Reserve officials said more rate rises are on the cards, although none were ready to suggest that January’s hot jobs report could push them back to a more aggressive monetary policy stance. From a peak of nearly 7% in June, the Fed’s preferred measure of inflation stood at 5% in December – well above its 2% target but heading steadily downward.
