Dimon: Inflation Fight Not Done, Rate Volatility Ahead

JPMorgan Chase chief executive Jamie Dimon says he is not persuaded that inflation has been defeated, even after the Federal Reserve's most recent interest rate increase. His comments push back on the view that price pressures are now firmly under control and that policymakers can claim victory. Speaking broadly about the outlook, he made clear the fight is unfinished.

Dimon advised businesses to brace for volatility in interest rates, citing persistent inflation, global deficits and heavy demand for capital as forces that could keep borrowing costs unsettled. Those pressures, he indicated, make it unwise to assume a smooth and predictable path for rates in the months ahead.

Even so, the JPMorgan chief does not expect a downturn to arrive imminently. He pointed to low unemployment and profitable corporations as evidence the economy still carries momentum, offering a more measured read than the gloomier forecasts circulating among some investors.

For Dimon, the labor market remains the most important gauge of whether broader economic stress is building. He has repeatedly treated employment data as the signal that would reveal genuine weakness, rather than short-lived swings in markets or shifts in sentiment.