Jamie Dimon, CEO of JPMorgan, one of the world's largest investment banks, said that the recent Israeli-Palestinian war may have plunged the world into the most dangerous times of recent times.
Saying that geopolitical developments worry him and that the Fed may keep interest rates higher for much longer, Dimon spoke at the meeting where the bank's quarterly figures were announced:
“Right now, we may be going through the most dangerous period in years or even decades. There is also a risk that the Fed may keep interest rates higher for longer than expected. “The persistently strong labor market and high government debt are among the risks that could keep interest rates high.”
Dimon had stated in recent weeks that there was a risk of interest rates rising to 7%. The 2-day FOMC meeting, where the Fed will determine the next interest rate decision, will be held on October 31 and November 1.
