JPMorgan CEO Urges Federal Reserve to Wait on Interest Rate Cut, Citing Inflation Concerns

During the Australian Financial Review business summit on Tuesday, JPMorgan CEO Jamie Dimon advised the Federal Reserve to delay the decision on interest rate cuts beyond June to maintain the central bank's credibility in combating inflation.

Call for Data-Dependent Approach

Dimon emphasized the importance of a data-dependent approach, stating, "I think they have to be data-dependent. If I were them, I would wait." He also highlighted the option to act swiftly and decisively in cutting rates, expressing concerns about the central bank's credibility.

Assessment of the U.S. Economy

Dimon commented on the strong performance of the U.S. economy, describing it as being in a phase of expansion. However, he acknowledged the presence of a "little bit" of a bubble in the current equity markets.