(Reuters) – JPMorgan Chase & Co Chief Executive Jamie Dimon expects U.S. interest rates could hit 6%, he said in an interview with CNBC on Thursday.
The Federal Reserve quickly caught up to out-of-control inflation and would probably pause interest rates at a little over 5%, but they may need to go higher, Dimon told CNBC.
“I suspect (interest rates) may have to go a little bit higher than 5 we’re talking about. It could hit 6,” he added.
The Fed’s policy rate is now in a range between 4.50% and 4.75%.
(This story has been refiled to add missing decimal point to the figure in the final paragraph)
(Reporting by Jyoti Narayan in Bengaluru; Editing by Sandra Maler and Leslie Adler)