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JPMorgan Chase CEO says he’s not convinced Fed will cut rates

JPMorgan Chase CEO says Fed might not cut interest rates

INDIANAPOLIS (WISH) — The leader of the world’s largest bank and one of the most influential financial executives in the United States is among the people watching what the Federal Reserve will do on interest rates.

Jamie Dimon, Chairman and CEO of JPMorgan Chase, during an exclusive interview with WISH-TV Senior Daybreak Anchor Scott Sander, says it’s better to have a strong economy with some inflation than a really weak economy.

“The good news is the strong economy. The bad news is that does correlate to inflation. So would you rather have a strong economy, the low inflation, and a really weak economy?”

Interest rates affect everyone at some level. When interest rates go up, it gets tougher to afford a home loan, car loan, and credit card debt. But when rates drop, inflation becomes painful.

Dimon says he’s not convinced the Fed will cut rates.

“I think there is probably an accurate thing when people say there are two Americas that one America, you know, the bottom 20% You’re making $15 An hour or less, they may not have medical, they live in parts of communities that may have a little bit more crime and the schools aren’t as good and they might be little angry.

“And they’re, you know, they’re people say there’s 40 or $40 away from a medical emergency. Well, that would make you uncomfortable, I think the things we should do to help that. Finally, wages going up to the lower end. So I think that is a good thing. And so hopefully you can fix this but a growing economy helps more people than anything. So to grow an economy, you create more jobs and hopefully wages will go up.”

This story was created from a script aired on WISH-TV.