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‘It Could Be Six or Seven’ -Breaking

by Mike Robinson

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© Bloomberg. Jamie Dimon

(Bloomberg) — The Federal Reserve might raise its benchmark interest rate as many as seven times to fight rising inflation, JPMorgan Chase & Co. (NYSE:) Chief Executive Officer Jamie Dimon said.

“My view is a pretty good chance there will be more than four,” Dimon said Friday on a conference call with analysts after the biggest U.S. bank released its fourth-quarter results. “It could be six or seven.”

Fed officials signal that higher borrowing costs will be in order amid high inflation for nearly 40 years. Money market traders are betting on six 25-basis point hikes over the next two year — before the rate dips slightly in 2020.

Dimon said it would be a mistake to assume the economy won’t grow during a period in which interest rates are increasing.

©2022 Bloomberg L.P.

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