The worldwide financial system will not be able to face the worst-case state of affairs of the U.S. rate of interest rising as excessive as 7% with stagflation, in keeping with the CEO of funding banking big JPMorgan (JPM), Jamie Dimon, Bloomberg reported on Tuesday. Since March 2022, the Federal Reserve has raised the benchmark borrowing value by 525 foundation factors to the 5.25%-5.5% vary to tame inflation. The so-called tightening cycle was partially accountable for final yr’s crypto market crash. In accordance with Dimon, the Fed might should preserve elevating charges to subdue persistent inflation and impending will increase will doubtless be extra damaging to the worldwide financial system.
