JPMorgan Chase CEO Jamie Dimon: Future Interest Rates Could Be Significantly Higher than Current Levels

BlockBeats News, May 21st - As bond yields hit multi-year highs, JPMorgan Chase Chairman and CEO Jamie Dimon issued a warning to bond investors. Dimon said that interest rates could rise significantly from current levels. "They could be much higher than they are today," Dimon said in a TV interview, "We may have already gone from an excess of savings to a shortage of savings." Dimon made the above remarks at a time when long-term bonds are under pressure due to concerns that rising oil prices could force central banks to raise interest rates. Coupled with worries about government spending in Japan, the UK, and the US, as well as the artificial intelligence boom driving the growth of the world's largest economy, investors have been seeking greater compensation to hold longer-dated debt. "We don't know when the world will become too panicked about this, we don't know when inflation will make people unwilling to hold long bonds," he said, "That day will come." (FXStreet)