Reuters reports that speaking at the Australian Financial Review business summit, the Chief Executive Officer (CEO) of JPMorgan Chase (JPM) Jamie Dimon expressed the view that the U.S. Federal Reserve should wait until after June to reduce interest rates.
Dimon noted that, in his opinion, the Fed's policymakers have to be data-dependent. "If I were them, I would wait," he said, adding that the rate-setters' credibility is a little bit at stake in this question. "I would even wait past June and let it all sort it out," JPMorgan's CEO suggested.
Jamie Dimon also admitted the U.S. economy is performing so well it could almost be characterized as a boom, but warned against markets' broad embrace of the soft landing narrative. In Dimon's view, the chance of a recession is about 65%. He added that the possibility of stagflation also could not be ruled out.