Jamie Dimon, CEO of JPMorgan Chase, prompt that the Federal Reserve is unlikely to scale back rates of interest until there’s a additional decline in inflation.
He additionally famous that stablecoins don’t at present 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 assume it would enhance reasonably than fall.
His feedback counter present market sentiment, the place some traders count on a number of price cuts over the subsequent yr. Regardless of these expectations, Dimon indicated that such predictions could be too optimistic given present financial situations.
Just lately, the Federal Reserve minimize charges by 25 foundation factors, the primary minimize in 2025. This determination supplied a lift to crypto markets, with Bitcoin
$112,238.45
rising previous $117,500.
On the subject of stablecoins, Dimon stated he doesn’t see them as a menace to banks. Nevertheless, he stated banks want to remain knowledgeable and engaged with how these belongings develop.
He acknowledged that folks in numerous elements of the world, for numerous causes, may choose to carry digital {dollars} as a substitute of utilizing native banking methods.
Just lately, Dimon has taken a extra accepting view of digital belongings, particularly stablecoins and blockchain expertise. What did he say? Learn the complete story.
