Hopes that inflation was on a permanent slide back down and the economy was recalibrating took a hit this month when the latest price report came in hot, followed by a jobs report showing the labor market is still going strong. While more jobs is good news for a lot of Americans, it means the economy is still running hot, a bad sign for reducing inflation. And while JPMorgan Chase CEO Jamie Dimon thinks the economy is in a relatively good state, he also thinks the Fed has a hard battle ahead to control prices.
“The U.S. economy right now is doing quite well. Consumers have a lot of money. They’re spending it. Jobs are plentiful,” Dimon said in an interview with CNBC’s Jim Cramer Thursday. “That’s today. Out in front of us, there’s some scary stuff. You and I know there’s always uncertainty. That’s a normal thing.”
