The Fed hiked its benchmark interest rates by three-quarters of a percentage point last month, the third consecutive increase of that size. Fed officials also said they are committed to hiking rates well above the current range of 3% to 3.25%.
Dimon said that while the Fed “waited too long and did too little” as inflation skyrocketed to four-decade highs, the central bank is “clearly catching up.”
“From here we let’s all wish him success and keep our fingers crossed that they managed to slow down the economy enough so that whatever it is, is mild — and it is possible,” he added.
