Jamie
Dimon,
President
&
CEO,Chairman
&
CEO
JPMorgan
Chase, speaking
on
CNBC’s
Squawk
Box
at
the
World
Economic
Forum
Annual
Meeting
in
Davos,
Switzerland
on
Jan.
17th,
2024.
Adam
Galici
|
CNBC
JPMorgan
Chase
CEO
Jamie
Dimon
on
Friday
issued
another
warning
about
inflation
despite
recent
signs
of
easing
in
price
pressures.
“There
has
been
some
progress
bringing
inflation
down,
but
there
are
still
multiple
inflationary
forces
in
front
of
us:
large
fiscal
deficits,
infrastructure
needs,
restructuring
of
trade
and
remilitarization
of
the
world,”
Dimon
said
in
a
statement
along
with
the
bank’s
second-quarter
results.
“Therefore,
inflation
and
interest
rates
may
stay
higher
than
the
market
expects.”
His
comments
came
after
this
week’s
data
showed
the
monthly
inflation
rate
dipped
in
June
for
the
first
time
in
more
than
four
years,
which
fueled
bets
that
the
Federal
Reserve
could
cut
rates
soon.
The consumer
price
index,
a
broad
measure
of
the
costs
for
goods
and
services
across
the
U.S.
economy,
declined
0.1%
in
June
from
May,
putting
the
12-month
rate
at
3%,
around
its
lowest
level
in
more
than
three
years.
Fed
Chairman
Jerome
Powell
earlier
this
week
expressed
concern
that
holding
interest
rates
too
high
for
too
long
could
jeopardize
economic
growth,
teasing
that
rate
reductions
could
be
on
the
horizon
as
long
as
inflation
continues
to
show
progress.
Dimon
joined
many
economists
in
sounding
the
alarm
on
burgeoning
U.S.
debt
and
deficits.
The
federal
government
has
so
far
spent
$855
billion
more
than
it
has
collected
in
the
2024
fiscal
year.
For
fiscal
2023,
the
government’s
deficit
spending
came
in
at
$1.7
trillion.