JPMorgan CEO: Fed cuts not assured, stablecoins no threat to banks

JPMorgan CEO Jamie Dimon says the Federal Reserve won’t cut rates until inflation cools, and adds he is “not particularly worried” about stablecoins.

JPMorgan CEO Jamie Dimon said the US Federal Reserve will have a hard time cutting the interest rate unless inflation drops, and isn’t worried about stablecoins posing a threat to the banking sector.

“If inflation does not go away, it’s going to be hard for the Fed to cut more,” Dimon, the head of the largest bank in the US, told CNBC-TV18 on Monday.

“Inflation seems a little bit stuck at 3%. Again, I can give you some arguments why it’s going to go up, not down,” he said, adding he’s hopeful for “decent growth” and a rate cut instead of the Fed cutting rates due to a recession.

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