Economic news

Fed may have to act more quickly to hold back inflation - JPMorgan Chase CEO

The chief executive officer of JPMorgan Chase & Co. James Dimon believes that the Federal Reserve may have to resort to "decisive action" to restrain inflation.

Many underestimate the possibility of increasing inflation and wage growth rates, and therefore underestimate the chances that the Fed will have to raise the rates faster than we all expect, Dimon wrote in his annual address to shareholders.

JP Morgan Chase CEO also noted that he sees opportunities for the development of operations "in almost every segment," including in those areas where the investment bank already occupies a leading position.

In such segments as investment banking, asset management, as well as banking services to consumers and companies, JPMorgan plans to increase the number of employees and the number of branches.

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