Jamie Dimon on Interest Rates: "I Am Not Sure the World Is Prepared for 7%"
Going from zero to 2% was almost no increase. Going from zero to 5% caught some people off guard, but no one would have taken 5% out of the realm of possibility. I am not sure if the world is prepared for 7%. Jamie Dimon. That's JPMorgan Chairman and CEO Jamie Dimon, talking to the Times of India, a week after the Federal Reserve kept interest rates steady in a range between 5.25% and 5.5% and flagged one last rate hike for this economic cycle.In the interview, Dimon said the worst case would be 7% interest rates with stagflation. "If they are going to have lower volumes and higher rates, there will be stress in the system. We urge our clients to be prepared for that kind of stress," he said.Dimon was speaking to the newspaper after JPMorgan's decision to add India to its emerging-market government bond index. "It is a very good thing for India to be part of the index because it has other ramifications and implications about transparency and the country's growth. So, it will help equ