JPMorgan's Dimon Says Fed Should Have Raised Rates Sooner

JPMorgan Chase Chairman and CEO Jamie Dimon says the Federal Reserve should have moved quicker on raising rates as inflation hits the world economy. "We're a little late," he says on Bloomberg Television. "The sooner they move the better."

[networth]

40% of Americans work for a wage, rent and have less than $1000 in the bank. Shelter is grossly understated as a component of CPI in that it is currently listed as 5% YOY and most real estate sources list rent as 12-15% YOY. In addition, shelter (rent) is 30% of the CPI calculation. This 40% of Americans are getting hit the hardest in rent, food and gasoline. This consumer is not strong and is beginning to look to savings and credit to close the gap created by extremely high and understated inflation.

[miken]

Yeah. The Fed should have raised rates in 2010. The country should not be propped up forever with free money.

[cooldudecs]

We should not raise at all… Inflation is from oil and housing prices

[ronaldshiffman]

Dimon's comments are smart and honest. I lay 90% of the blame for our broken economy on Wall Street - 10% on the fed. In 2018 the fed announced their plan to very gradually begin decreasing their policy of quantitative easing. It was the right policy. The necessary policy. After a very few months, the markets had a 'tantrum' (decline in value) which pressured the fed to reverse policy and loosen again, which has directly led us to our current inflationary situation. Wall Street was pushing, pushing, pushing for markets to move higher. Wall Street was extremely greedy. They totally lied about the STRENGTH of the economy to enrich themselves. Since when is government borrowing and printing of money a path to economic strength?

[shanetowne]

If you could stop inflation in the first place why wouldn't you? These types of people should try living like the rest of us and then let us know if there is a recession.

[MommaBear-eddf]

Economy strong😂😂😂 the fed is why we have inflation! Printing money and giving it to everyone but hardworking Americans … hmmm I smell rats

[slovokia]

What is the probability that the Fed retroactively changes its inflation target when it turns out that reducing inflation is too painful politically? Long term bond investors are assuming the 2% inflation target will hold - suppose it doesn’t?

[davidhall]

Lower the cost of fuel and inflation will go down. Rates are not the problem.

[utubeuser]

No kidding; and banks should have had a change in leadership and been rebuilt through bankruptcy following the financial crisis.

[truepersona]

Increase rates by 9% this year and 10% next year. Need a Volcker+ style rate increase.

[greenragi]

Here we go again, The Country Club Members Meets again. Oh Well, Now the FOMC Country Club has taken the responsibility of the "Office of Inspector General" to see how many Minorities have unjustly lost their jobs because the Fat Cats have to take care of their bottom-line... Well, it makes me Cringe when @Powell, @Kashkari, @Esther George are so concerned about the poor communities in America.. Hail the Country Club Chair !!

[jeffreymarshall]

Ya think? The Fed should have backed off once the realized stocks and housing were going nuts in the summer of 2020. Two years too late to normalize and stop the money printer. This is now going to be an extremely painful normalization.

[alexmartinlillia]

Why has the federal reserve under the circumstances put the rates up a half a percentage point..? That's the highest rise in more than 20 years..? Also can someone help me understand the mandates of the federal reserve.?

[delife_bkk]

If raising w/o caring, i would throw dollars w/o caring too. Thanks god for having new POWER.

[dontdoitbro]

We will see how much of a deep breath you give them Jamie when the market is down 20% from all time highs. You will be screaming let every other sad soul for them to cut rates

[EstevesxD]

70k usd gdp per capta and they want even more growth. Chill out dude.

[anonymousAJ]

If BTC is commodity/money, what's the contract weight?
If BTC is currency/debt, what's the face value?
If BTC is equity what are the ownership rights?

[jorgegomez]

Imagine earning 1billion throught life giving nothing to society but ruin.

[akashpaul]

Regulations to make the feds job easier? But they’ve wanted to regulate banking for decades and people like mr dimon always push back everytime. Wtf is he talking about

[ArijitMukhopadhyay]

Supply side inflation is being controlled through demand tapering 🤦