(Bloomberg) -- JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said the fact that central banks got financial forecasting “100% dead wrong” about 18...
-- JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said the fact that central banks got financial forecasting “100% dead wrong” about 18 months ago should prompt some humility about the outlook for next year.Speaking on a panel at the Future investment Initiative summit in Riyadh, Saudi Arabia, Dimon voiced doubts that central banks and governments around the world could manage the economic fallout from rising inflation and slowing global growth.
“I don’t think it makes a piece of difference whether rates go up 25 basis points or more,” he said. “Whether the whole curve goes up 100 basis points, be prepared for it. I don’t know if it’s going to happen.” “We will make the breakthroughs we need, but its going to be later and longer than we think due to our own basic incompetence,” he said.The Price of Money Is Going Up, and It’s Not Because of the FedKevin O'Leary says you need to have $5M in the bank to 'survive' no matter what happens — here's the math behind his number and how to hit it
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