JPMorgan’s Dimon says US interest rates could reach 6%: CNBC

By: News Team

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JPMorgan's Dimon says US interest rates could reach 6%: CNBC

The chief executive of JPMorgan Chase & Co (NYSE:.JPMJamie Dimon predicts U.S. interest rates could reach 6%, he said Thursday in an interview with CNBC.

The Federal Reserve has sought to quickly curb runaway inflation and would likely halt interest rates by a little more than 5%, but they may have to rise higher, Dimon told CNBC.

“I suspect (interest rates) may have to go up a little more than the 5 (%) we’re talking about. They could reach 6(%),” he added.

The cost of borrowing from the Federal Reserve currently stands between 4.50% and 4.75%.

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