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Urge the Federal Reserve to consider interest rate cuts after June
Will never buy Bitcoin
According to CNBC’s report, Jamie Dimon, CEO of JPMorgan Chase, urged the Federal Reserve to consider interest rate cuts after June and said that the Federal Reserve needed to strengthen its reputation in combating inflation. Jamie Dimon said at the meeting:
Currently, the market expects an 84% probability of a rate cut by the Federal Reserve in June, and a total of 90 basis points of rate cuts within a year. However, Jamie Dimon warned that the performance of the US economy is so good that it can almost be described as prosperous, but he warned against fully accepting the market’s narrative of a soft landing. He believes that the possibility of some form of recession is about 65%, and the possibility of stagflation cannot be ruled out.
In addition, Jamie Dimon also stated that the surge in debt and equity markets since the end of 2023 has some characteristics of a bubble, partly due to the legacy issues of fiscal and monetary stimulus policies during the pandemic.
As a long-time critic of Bitcoin, the recent surge in prices has not changed Jamie Dimon’s opinion. He stated that many practical uses of this cryptocurrency involve illegal activities such as sex trafficking, fraud, and terrorism.
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