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Jamie Dimon: Wall Street ‘squealing like stuck pigs’ over Kevin Warsh’s Fed
Fortune • • business
Key Points:
- Treasury markets reacted nervously to Warsh’s post-FOMC press conference, partly due to his suggestions about changing inflation frameworks and the message for markets to "play the ball, not the referee."
- JPMorgan CEO Jamie Dimon supports the Fed's current efforts to combat inflation, which has remained above the 2% target since February 2021, and views Warsh’s task forces as a positive step toward improving inflation measurement and policy communication.
- Warsh has announced five task forces focusing on communication, data quality, the Fed’s balance sheet, productivity drivers like AI, and inflation frameworks, with findings expected early next year.
- Despite market unease over potential Fed changes, Dimon believes the long-term work of the task forces will be beneficial, while Apollo Global Management’s economist Torsten Sløk defends Warsh’s elimination of forward guidance as pragmatic and conducive to restoring genuine market signals.
