JPMorgan Chase’s Jamie Dimon Warns US Interest Rates Could Rise to 8%

The boss of one of the world’s biggest banks has warned US interest rates could climb to 8 per cent.

Jamie Dimon, the head of JPMorgan Chase, said his bank has prepared for interest rates to jump because of “persistent inflationary pressures”.

Central banks around the world have been busy raising rates in a bid to dampen rising prices.

But with US inflation gradually easing, the overwhelming expectation is for the Federal Reserve to cut rates this year.

Markets are pricing in two quarter-point rate cuts in 2024.