Dimon warns world not ready for 7% Fed rate: Times of India

The world may not be prepared for the worst-case scenario, in which the Federal Reserve’s benchmark interest rates hit 7% along with stagflation. JPMorgan Chase & Co. CEO Jaime Dimon said in a interview with the Times of India.

“If they are going to have lower volumes and higher rates, there will be stress on the system,” Dimon said while visiting Mumbai for a JPMorgan investor summit. “Warren Buffett He says you find out who swims naked when the tide goes out. “That will be the tide that will go out.”