JPMorgan Chase CEO Jamie Dimon slammed central banks like the Federal Reserve for being '100% dead wrong' when they tried to paint inflation as 'transitory' 18 months ago.
JPMorgan Chase CEO Jamie Dimon on Tuesday warned against relying on the economic forecasts of central banks like the Federal Reserve, recalling how their projections were "100% dead wrong" in the not-so-distant past. "Prepare for possibilities and probabilities, not calling one course of action, since I've never seen anyone call it," Dimon said during a panel discussion at the Future Investment Initiative conference in Saudi Arabia, per CNBC.
As for whether the Fed might raise rates again this year, Dimon said, "I don't think it makes a piece of difference whether the rates go up 25 basis points or more, like zero, none, nada.
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JPMorgan's Dimon and BlackRock's Fink both see parallels to the 1970sSteven Goldstein is based in London and responsible for MarketWatch's coverage of financial markets in Europe, with a particular focus on global macro and commodities. Previously, he was Washington bureau chief, directing MarketWatch's economic, political and regulatory coverage. Follow Steve on Twitter: MKTWgoldstein.
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