Jamie Dimon, CEO of JPMorgan Chase, instructed that the Federal Reserve is unlikely to cut back rates of interest except there’s a additional decline in inflation.
He additionally famous that stablecoins don’t presently pose a serious danger to the banking system.
Throughout an interview with CNBC-TV18 on September 22, Dimon stated that except inflation continues to ease, the US Federal Reserve might face challenges in lowering 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’d improve slightly than fall.
His feedback counter present market sentiment, the place some buyers anticipate a number of charge cuts over the following 12 months. Regardless of these expectations, Dimon indicated that such predictions may be too optimistic given present financial situations.
Just lately, the Federal Reserve lower charges by 25 foundation factors, the primary lower in 2025. This determination supplied a lift to crypto markets, with Bitcoin
$112,997.93
rising previous $117,500.
On the subject of stablecoins, Dimon stated he doesn’t see them as a risk to banks. Nevertheless, he stated banks want to remain knowledgeable and engaged with how these property develop.
He acknowledged that individuals in numerous elements of the world, for varied causes, may choose to carry digital {dollars} as an alternative of utilizing native banking programs.
Just lately, Dimon has taken a extra accepting view of digital property, particularly stablecoins and blockchain expertise. What did he say? Learn the total story.
