Justin had the breaking on this on Friday:
Adding a little more now from JPMorgan Chase CEO Jamie Dimon, in a statement issued with the bank’s fourth-quarter earnings release:
- U.S. economic growth is being fueled by “large amounts of government deficit spending and past stimulus.”
- “There is also an ongoing need for increased spending due to the green economy, the restructuring of global supply chains, higher military spending and rising healthcare costs,”
- “This may lead inflation to be stickier and rates to be higher than markets expect.”
Yep. Expectations for six or even seven Federal Reserve rate cuts this year do seem very overblown.
