JPMorgan's Dimon says U.S. interest rates could hit 6% -CNBC

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February 23, 2023 8:22 PM EST

FILE PHOTO: Jamie Dimon, Chairman of the Board and Chief Executive Officer of JPMorgan Chase & Co., poses for a photo during an interview with Reuters in Miami, Florida, U.S., February 8, 2023. REUTERS/Marco Bello/File Photo

(Reuters) - JPMorgan Chase & Co Chief Executive Jamie Dimon expects U.S. interest rates could hit 6%, he said in an interview with CNBC on Thursday.

The Federal Reserve quickly caught up to out-of-control inflation and would probably pause interest rates at a little over 5%, but they may need to go higher, Dimon told CNBC.

“I suspect (interest rates) may have to go a little bit higher than 5 we're talking about. It could hit 6,” he added.

The Fed's policy rate is now in a range between 4.50% and 4.75%.

(This story has been refiled to add missing decimal point to the figure in the final paragraph)

(Reporting by Jyoti Narayan in Bengaluru; Editing by Sandra Maler and Leslie Adler)


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