The worldwide economic system is probably not able to face the worst-case situation of the U.S. rate of interest rising as excessive as 7% with stagflation, in keeping with the CEO of funding banking big JPMorgan (JPM), Jamie Dimon, Bloomberg reported on Tuesday. Since March 2022, the Federal Reserve has raised the benchmark borrowing price by 525 foundation factors to the 5.25%-5.5% vary to tame inflation. The so-called tightening cycle was partially liable for final 12 months’s crypto market crash. In response to Dimon, the Fed could should maintain elevating charges to subdue persistent inflation and impending will increase will probably be extra damaging to the worldwide economic system.
