JP Morgan CEO Dimon said Fed "lost a little bit of control of inflation”

JPMorgan Chase CEO Jamie Dimon spoke on Thursday in an interview with CNBC. Greg had the headline comments here:

• JPMorganChase CEO Jamie Dimon: US economy is doing quite well

Dimon said that:

• “I have all the respect for [Fed Chair Jerome] Powell, but the fact is we lost a little bit of control of inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term”

I think we all recall the denials on inflation, over and over again. "Transitory" was parroted ad nauseum:

The Fed wasn't alone in this of course.

The link to the CNBC report on the interview with Dimon is here if you'd like more:

• said he expects that interest rates could “possibly” remain higher for longer