Jamie Dimon

The 2021 rise in US inflation will prove persistent rather than transitory, forcing higher rates.

“We have a lot of cash and capability and we're going to be very patient, because I think you have a very good chance inflation will be more than transitory,”

Said on

14 June 2021 · Morgan Stanley US Financials conference; also said "I do expect to see higher rates and more inflation". No window given; read as through 2022.

Source

Jamie Dimon says JPMorgan is hoarding cash because 'very good chance' inflation is here to stay · NBC Los Angeles (CNBC)

Should come true

2022

How sure they sounded

I think you have a very good chance

Categories

Economy

Importance

3 of 5 · Persistent inflation drove the fastest Fed tightening in decades.

Outcome

Accurate Happened 30 June 2022.

Inflation did not fade: US CPI inflation kept rising to a 9.1% peak in June 2022, the highest in about 40 years, and the Fed raised rates seven times in 2022. That matches his call of persistent inflation and higher rates, made when the Fed still called it transitory.

Evidence:

• https://www.bls.gov/news.release/archives/cpi_07132022.htm
• https://www.federalreserve.gov/monetarypolicy/openmarket.htm