Dimon: Inflation Still a Concern Despite Recent Data
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JPMorgan CEO Jamie Dimon thinks people are overreacting to short-term inflation numbers. He believes inflation may be stickier than recent data suggests.
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Dimon says the Fed is right to pause rate hikes after 500 basis points of increases, but warns they may still raise rates further.
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Inflation rose 0.2% in January, below forecasts. But Dimon thinks inflation may not go away quickly.
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The year-over-year inflation rate was 3.2% in January. The core CPI rose 4% year-over-year.
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Stocks rallied on the inflation data, with the S&P 500 up 1.9% and Russell 2000 up 5.4%. But Dimon remains cautious on inflation outlook.