Dimon and Griffin Warn Inflation May Be Stickier Than October Data Suggests, Caution Fed Against Declaring Victory
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JPMorgan Chase CEO Jamie Dimon says markets are overreacting to the October inflation data that sparked a stock market rally.
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Dimon told Bloomberg he's "afraid inflation may not go away that quickly" despite the cooler CPI number.
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The Fed shouldn't call time yet on fighting inflation, Dimon said, and should be prepared to raise rates further.
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Dimon thinks inflation is "a little stickier" than the October data suggests.
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Billionaire Ken Griffin also warned inflation may not retreat quickly, saying the Fed must show it can "put the inflation genie back in the bottle."