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BlockNews
Home FINANCE

JPMorgans Jamie Dimon Predicts Fed to Cut Rates by 50 bps

Michael Juanico by Michael Juanico
September 18, 2024
in FINANCE, OPINION
Reading Time: 2 mins read
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  • JPMorgan Chase CEO Jamie Dimon said whether the Federal Reserve cuts interest rates by 25 or 50 basis points, the move is “not going to be earth-shattering”
  • Dimon stated that the Fed needs to cut rates, but called it a “minor thing” given the underlying real economy
  • He made these comments at a conference on Tuesday

Jamie Dimon, CEO of JPMorgan Chase & Co., said that whether the Federal Reserve cuts interest rates by 25 or 50 basis points, the move will not have a major impact.

JUST IN: JPMorgan CEO Jamie Dimon expects the fed to cut rates by 25-50 bps tomorrow 👀

— BlockNews.com (@blocknewsdotcom) September 17, 2024

Dimon’s Comments at Conference

Dimon made the comments at a conference on Tuesday. He said that the Fed needs to cut rates, but described it as a “minor thing” given the broader economic context.

Fed Widely Expected to Cut Rates

The Fed is widely expected to cut rates at its September meeting, amid concerns about slowing global growth and trade tensions. Market participants are divided on whether the cut will be 25 or 50 basis points.

Impact on Economy

Dimon downplayed the significance of the rate cut itself. He said the “real economy” is more important than whether the Fed tweaks rates up or down.

Previous Rate Cuts

The Fed cut rates in July for the first time since 2008, reducing its benchmark rate 25 basis points. Further cuts are expected in September and possibly December.

Disclaimer: BlockNews provides independent reporting on crypto, blockchain, and digital finance. All content is for informational purposes only and does not constitute financial advice. Readers should do their own research before making investment decisions. Some articles may use AI tools to assist in drafting, but every piece is reviewed and edited by our editorial team of experienced crypto writers and analysts before publication.
Tags: cut ratesFederal ReserveJamie DimonJPMorgan Chase & Co
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Michael Juanico

Michael Juanico

Michael is a BSBA Management graduate from Mindanao State University and has been a professional content writer since 2019. He began exploring cryptocurrency in 2021 and has since made blockchain and digital assets his primary focus. For nearly four years, Michael has contributed research and editorial content at Aiur Labs and BlockNews, producing clear and accessible coverage of market trends, trading strategies, and project developments. He is transparent about his personal holdings in Bitcoin, TRON, and select meme tokens, combining writing expertise with hands-on market experience to deliver trustworthy insights to readers.

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