JPMorgan CEO Jamie Dimon has warned that the global economy may not be ready to face the worst-case scenario of the U.S. interest rate rising as high as 7%, according to a Bloomberg report on Tuesday. Since March 2022, the Federal Reserve has increased the benchmark borrowing cost by 525 basis points to the 5.25%-5.5% range to combat inflation. This tightening cycle was partially responsible for the crypto market crash of last year. Dimon believes that the Fed may have to keep raising rates to suppress persistent inflation, and that the impending increases could be more damaging to the global economy.

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Information	Details
Geography	Global
Countries
Sentiment	negative
Relevance Score	10
People	Jamie Dimon
Companies	Crypto Market Crash, Bloomberg, JPMorgan (JPM), Federal Reserve
Currencies	None
Securities	None