Jamie Dimon criticizes the US Federal Reserve and minimizes the importance of the next steps - financial expert gives assessment.

Jamie Dimon criticizes the US Federal Reserve and minimizes the importance of the next steps - financial expert gives assessment.

According to a report by www.wallstreet-online.de, JPMorgan CEO Jamie Dimon criticized the US Federal Reserve at a conference in Riyadh and downplayed the significance of the central bank's upcoming actions. He claimed that central banks were "100 percent wrong" in their economic forecasts 18 months ago and that it doesn't matter if the Federal Reserve raises interest rates again this year.

According to Dimon, it makes no difference whether interest rates rise by 25 basis points or more. This statement was made by him during a panel discussion at the Future Investment Initiative Summit in Riyadh, Saudi Arabia.

This criticism from Jamie Dimon is quite significant and can have an impact on the financial market and the financial industry. Dimon is a prominent figure in the financial world and CEO of one of the largest banks in the United States. His criticism of central banks' economic forecasts and his skepticism about the impact of interest rate hikes could undermine investor confidence in the Federal Reserve's decisions.

If investors lose confidence in the central bank, this can lead to volatility in financial markets. If they no longer believe in the accuracy of economic forecasts and the appropriate actions of the central bank, they could become more cautious in their investments or even withdraw from certain markets.

In addition, Dimon's criticism could also have an impact on the Fed's interest rate policy. If the Federal Reserve feels that its actions are not sufficiently appreciated by influential financial experts like Dimon, it may hesitate to raise interest rates further. This, in turn, could have an impact on lending and general economic activity.

It is important to note that Jamie Dimon's statements reflect his personal opinions and should not be taken as general truth. The Federal Reserve will continue to produce its own economic forecasts and make decisions based on this data.

Nevertheless, Jamie Dimon's criticism should be used as an impetus for a thoughtful discussion about the role of central banks and the accuracy of economic forecasts. It remains to be seen how the market and the financial industry react to these statements and whether they will have an impact on the Federal Reserve's actions.

Source: According to a report by www.wallstreet-online.de