JPMorgan Chase & Co CEO Jamie Dimon said Friday that the turmoil in the plumbing of the financial system last month may be precursor of a bigger crisis if the Federal Reserve doesn’t learn from the experience.
JPMorgan JPM, +0.17% has $120 billion parked at the Fed now, Dimon said. The balance regularly goes down to $60 billion, but not much below that level because of regulatory rules. ‘We’ve spoken to the regulators and I think they’re quite bright and they’ll look at this. And they should do it before the crisis happens—because it will happen.’ Jamie Dimon On a conference call to discuss its third-quarter results last week, Dimon made similar comments about regulatory restraints, saying that rules in place restricted the behemoth money-center lender from providing short-term funding to the broader market.
“Banks hit that limit [in the repo market] and couldn’t deploy liquidity. The same issue will happen eventually in the big liquidity thing - the $4 trillion,” when markets become volatile, he said.
Source: News Formal (newsformal.com)
Quantum Financial System Reset incoming
Hey also said the 10yr would be above 5% in 2019.
Im sorry but why is he not in priso after 2008?
All the games they play with interest rates has to end badly...these persistent low rates were only meant for times of crisis, but the fed has made it the new norm to prop up markets, instead of letting markets adjust on their own.
Has anyone else noticed all media photos of Jamie Dimon look like the exact same one.
Jamie has spoken but All I need right now it is weird tweet from dear president from Mr Trump. Communist arrested two American English teachers in China. China imposed Visa curb policy to some US nationals. Cc: realDonaldTrump CNN nytimes thehill
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