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US-based banking giant JP Morgan Chase recently announced its third-quarter earnings and following the release of the earnings report, JP Morgan Chase CEO Jamie Dimon made significant statements to the public. Dimon stated that the current geopolitical factors could continue to push global inflation higher and added that the Fed could continue with interest rate hikes, using the expression “this could be the most dangerous period the world has seen in decades” for the current developments.
Inflation Warning from JP Morgan CEO
Following the announcement of JP Morgan Chase’s third-quarter earnings, CEO Jamie Dimon also made important statements to the public. Dimon addressed various topics in his statements, ranging from current geopolitical developments to the Fed’s interest rate decision and inflation.
Jamie Dimon expressed that the current geopolitical conditions could lead to high levels of inflation, stating that these conditions could be “the most dangerous period the world has seen in decades.” Additionally, JP Morgan’s CEO made a brief evaluation regarding the Fed’s next interest rate meeting.
Although expectations that the Fed will keep the policy rate unchanged at its next interest rate meeting have strengthened, Dimon expressed an opposite view to the market expectation. Dimon suggested that inflation could continue to remain at high levels under current conditions and put forward the argument that the Fed could continue with interest rate hikes in the coming months.
Focus Shifts to the Upcoming Fed Interest Rate Decision in the Markets
The markets are now focused on the Fed interest rate decision, which will be announced on November 1st at 21:00 Turkish time. While the strongest expectation in the markets is that the Fed will keep the policy rate unchanged, the release of critical macroeconomic data above expectations has led to the formation of expectations that interest rate hikes could continue in the coming months.
Indeed, in addition to the statements made by JP Morgan’s CEO, many figures from the business world, including US investor Ray Dalio, made statements indicating that inflation could continue to rise. Additionally, many analysts warned that risky assets could also be negatively affected if macroeconomic uncertainty persists.
