Jamie Dimon, Chairman and CEO of JPMorgan Chase, testifies during a Senate Banking Committee hearing at the Hart Senate Office Building on December 06, 2023 in Washington, DC. The committee heard testimony from the largest financial institutions during an oversight hearing on Wall Street firms. (Photo by Win McNamee/Getty Images)
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JPMorgan CEO Jamie Dimon on Tuesday urged the Federal Reserve to wait past June before cutting interest rates, arguing the central bank needs to shore up its inflation-fighting credibility.
“I think they have to be data-dependent. If I were them, I would wait,” Dimon said at the Australian Financial Review business summit via a livestream from New York.
“You can always cut it quickly and dramatically. Their credibility is a little bit at stake here. I would even wait past June and let it all sort it out.”
Dimon said the U.S. economy was doing well and that it was in a boom phase, though he was seeing a “little bit” of a bubble in equity markets right now.
This story originally appeared on CNBC
