JPMorgan CEO Jamie Dimon said on Thursday at an Irish foreign ministry event that U.S. financial markets were underestimating the possibility of a Federal Reserve interest-rate hike, a prospect he described as a “cause for concern.”
According to the latest meeting summary of the policy-making Federal Open Market Committee (FOMC), Fed officials agree on interest rate cuts, but are undecided on when it will happen. The benchmark federal funds rate—which influences business, consumer, and government borrowing costs—was left at a target range of 4.25–4.5 percent.
