“It’s perfectly reasonable for the Fed to go to 5% and wait a while,” Dimon told Reuters in an interview. But if inflation slows to 3.5% or 4% and stays there, “you may have to go higher than 5% and that could affect short rates, longer rates,” he said.
Dimon also said a default on US debt would be potentially “catastrophic” and could “destroy” the country’s future, according to Reuters. President Joe Biden this week vowed to not allow the US to default on its debt, calling on Congress to raise the debt ceiling.
Dimon also said that he was planning to visit China, as it was important to maintain relations with the country, Reuters reported.
