) CEO Jamie Dimon said it remains possible the Federal Reserve could raise interest rates an additional 75 basis points due to "stickier" inflation, warning businesses should be prepared for such a worst-case scenario.to hold interest rates in a range of 5.25%-5.50%, Dimon said "I think they're right to pause here and see what happens," adding: "I suspect that they may not be done.
In its statement on Wednesday, the Fed upgraded its assessment of the economy to "strong" in the third quarter from "solid" in September. This change came aftershowed growth clocked in at a whopping 4.9% annualized rate over the summer months, which was driven in large part by strong consumer spending.
Some of JPMorgan’s rivals began investing that money in longer-dated securities in a search for higher yield, only to see the value of those holdings go down once the Fed began raising rates in 2022 and 2023. Dimon, who became CEO in 2005, is currently the longest-serving boss of a major national bank and the only one with sharp memories of what it was like to be in charge during the worst financial crisis since the Great Depression.
The stock market is approaching a 'once-in-a-generation' buying opportunity as profits are about to take off almost everywhere, investment firm saysBank of Nova Scotia stock could be a major bargain in the banking scene right now. The post Canadian Bank Stocks Look Severely Undervalued: Here’s 1 With a 7.6% Yield appeared first on The Motley Fool Canada.Energy stocks are at their 52-week highs, while the market is bearish because of geopolitical tensions.
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