JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said he remains skeptical about a soft landing in the US following the Federal Reserve’s first rate cut in more than four years — and said he wouldn’t “count my eggs” on that outcome.
Katherine Doherty and Hannah Levitt, Bloomberg NewsBlerina Uruçi, chief US economist of T. Rowe Price, joins BNN Bloomberg to discuss the market reaction following the Fed's 50 BPS point rate cut announcement.
“I am a little more skeptical than other people. I give it lower odds,” he said at The Atlantic Festival event in Washington on Friday. “I hope its true, but I’m also more skeptical that inflation is going to go away so easily, not because it hasn’t come down — it has — and it can come down more.” The Federal Reserve cut its benchmark interest rate by half a percentage point Wednesday in a policy shift aimed at engineering a so-called soft landing. Ahead of the decision, Dimon said that whether they lowered them by 25 or 50 basis points, it wouldn’t be “earth-shattering.”
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