Jamie Dimon, the CEO of JPMorgan warned that it was too early to declare a beat on inflation and that the US Fed might raise interest rates to above 5% if inflation proves sticky.
Prior to this, several Fed officials said that further rate hikes were possible and the peak of interest rates could be higher than expected. The US Fed’s Williams pointed out that the Fed will continue to raise interest rates in the future and will need to maintain a restrictive monetary policy for a period of time, and it is reasonable to raise interest rates to 5%-5.25%. The US Fed's Kashkari also said that he has not seen any reason to lower the interest rate and expects to raise the interest rate to around 5.4%.