Jamie Dimon warns US rates could surprise markets to the upside - reports

'Sticky' inflation could see Fed rethink

JP Morgan Chase & Co chief executive Jamie Dimon has issued a stark warning against declaring victory over high inflation too soon.

Dimon said the Federal Reserve could be forced to raise interest rates above the 5% mark if higher prices ended up "sticky," Reuters has reported. Markets currently expect one or two more 25bps rises to the Fed rate at most, followed later in the year by cuts. BoE's Bailey predicts 'powerful downward forces' will rein inflation in Two more rises of this size would take interest rates in the US to a peak range of 5% to 5.25%. This may not be the end of the story though, if Dimon is to be believed. Of significant concern is the hot jobs market in America. While there have be...