JPMorgan CEO Jamie Dimon said the Fed won’t cut rates again until inflation falls. He’s cool on stablecoins.
Jamie Dimon: Rates won’t fall as long as inflation stays above 3%
JPMorgan CEO Jamie Dimon warned that the US Federal Reserve won’t be able to cut interest rates sharply unless inflation falls. According to him, the rate is “stuck” at around 3%, and there are arguments in favor of its further rise.
“If inflation doesn’t go away, it will be difficult for the Fed to cut rates. I hope for stable growth and that rates will not be cut because of a recession,” Dimon said in an interview with CNBC-TV18.
The Fed already cut rates by 25 bps in September, helping Bitcoin rise above $117,500 for the first time in a month. The market expects two more cuts before the end of the year — in October and December.
Attitudes to stablecoins
Dimon separately commented on regulated stablecoins. He noted that he does not see them as a serious threat to banks, but emphasized that the sector needs to “keep its finger on the pulse.”
“Some people will want to hold dollars in the form of stablecoins outside the United States — from criminals to countries where it is better to have tokenized dollars than bank accounts,” he said.
JPMorgan is already involved in stablecoin projects, and banking groups are discussing creating a consortium to launch their own token.
