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Fed Urged to Consider Rate Cuts After June
Will Never Buy Bitcoin
According to CNBC’s report, Jamie Dimon, CEO of JPMorgan Chase, today urged the Federal Reserve to consider rate cuts after June and said that the Fed needs to strengthen its credibility in combating inflation. Jamie Dimon said at the meeting:
Currently, the market expects an 84% possibility of a rate cut in June, and a total of 90 basis points of rate cuts within a year. However, Jamie Dimon cautioned that the US economy is performing so well that it can be described as prosperous, but he warned against fully accepting the market’s soft landing narrative. He believes that there is about a 65% possibility of some form of recession, and the possibility of stagflation cannot be ruled out.
In addition, Jamie Dimon also stated that the surge in debt and stock markets since the end of 2023 has some bubble characteristics, partly due to the legacy issues of fiscal and monetary stimulus policies during the pandemic.
As a long-time critic of Bitcoin, the recent surge in prices has not changed Jamie Dimon’s views. He stated that many practical uses of this cryptocurrency involve illegal activities such as sex trafficking, fraud, and terrorism.
