US: Dimon says it would be ‘painful’ for the economy if interest rates rose to 6 per cent
(Il Sole 24 Ore Radiocor) - “A rise from 5 per cent to 6 per cent” in Treasury yields “would be more painful than a rise from 4 per cent to 5 per cent. Everyone will have to pay more for money and will have to renew their loans at higher rates: furthermore, credit spreads could also rise slightly as a result’. This was stated by JP Morgan’s CEO, Jamie Dimon, in an interview with CNBC. “I’m not making any predictions,” he clarified. “I’m simply saying that we need to be prepared for this eventuality.”
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