Jamie Dimon Sees Rough Times Ahead for Smaller Banks, Predicting Interest Rates as High as 7 Percent

JPMorgan Chase & Co President and CEO Jamie Dimon testifies during a U.S. House Financial Services Committee hearing titled “Holding Megabanks Accountable: Oversight of America’s Largest Consumer Facing Banks” on Capitol Hill in Washington on Sept. 21, 2022. Elizabeth Frantz/Reuters

JPMorgan CEO Jamie Dimon, predicts rough times ahead for regional banks and warns of more deposit runs, as future interest rate hikes become increasingly likely.

Dimon warned at a May 22 Q&A Investor Day meeting at JPMorgan Chase that interest rates were likely to go higher from here and rise to as much as 7 percent.