JPMorgan's Dimon urges US Fed to wait past June before cutting rates

JPMorgan’s CEO Jamie Dimon advised the Federal Reserve to delay interest rate cuts. Dimon emphasized the necessity for the central bank to bolster its credibility in fighting inflation. He suggested the Fed be data-dependent and wait beyond June to assess the situation. Markets are anticipating a 90 basis point easing this year, with an 84% probability of a cut in June. Dimon acknowledged the robust state of the US economy but warned against assuming a soft landing, predicting a 65% chance of a recession and potential stagflation. He also discussed the bubble-like characteristics of debt and equity markets and expressed his skepticism towards bitcoin while mentioning JPMorgan’s extensive research on artificial intelligence.