News > Jamie Dimon says rates will rise above 5% because there is still ‘a lot of underlying inflation’

Jamie Dimon says rates will rise above 5% because there is still ‘a lot of underlying inflation’

JPMorgan Chase CEO Jamie Dimon believes that interest rates could go higher than what the Federal Reserve currently projects as inflation remains stubbornly high. To battle soaring prices, the Federal Reserve has raised its benchmark interest rate to a targeted range between 4.25% and 4.5%, the highest level in 15 years. Dimon said the recent easing of inflation comes from temporary factors such as a pullback in oil prices and a slowdown in China due to the pandemic.