Jamie Dimon, CEO of JPMorgan Chase, steered that the Federal Reserve is unlikely to cut back rates of interest until there’s a additional decline in inflation.
He additionally famous that stablecoins don’t presently pose a significant threat to the banking system.
Throughout an interview with CNBC-TV18 on September 22, Dimon stated that until inflation continues to ease, the US Federal Reserve might face challenges in decreasing rates of interest additional.
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He identified that inflation seems to have stalled at round 3%, and there are nonetheless causes to suppose it’d improve somewhat than fall.
His feedback counter present market sentiment, the place some buyers anticipate a number of fee cuts over the following 12 months. Regardless of these expectations, Dimon indicated that such predictions may be too optimistic given present financial circumstances.
Just lately, the Federal Reserve reduce charges by 25 foundation factors, the primary reduce in 2025. This determination supplied a lift to crypto markets, with Bitcoin
$112,176.12
rising previous $117,500.
On the subject of stablecoins, Dimon stated he doesn’t see them as a risk to banks. Nonetheless, he stated banks want to remain knowledgeable and engaged with how these property develop.
He acknowledged that individuals in several components of the world, for numerous causes, would possibly want to carry digital {dollars} as a substitute of utilizing native banking techniques.
Just lately, Dimon has taken a extra accepting view of digital property, particularly stablecoins and blockchain expertise. What did he say? Learn the complete story.
