JPMorgan Chase CEO Jamie Dimon was speaking in an interview with the Times of India. Dimon is in Mumbai attending a JPMorgan investor summit.
- “I am not sure if the world is prepared for 7%,”
- “I ask people in business, ‘Are you prepared for something like 7%?’ The worst case is 7% with stagflation. If they are going to have lower volumes and higher rates, there will be stress in the system,”
- Dimon cautioned that another two percentage points of rate hikes would be “more painful” than the last two.
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Wow, Dimon with the scary prognostications. Maybe he ate bad curry or something?
