(MarketWatch) JPMorgan CEO Jamie Dimon says the US top bank has $500 billion in cash awaiting deployment in a higher rate economy in coming months.
Dimon expects low rates to persist longer, with the CEO projecting high rates and more inflation in Fed’s Wednesday statement.
The JPMorgan CEO says the bank has been stockpiling cash to capitalize on higher rates in the short and long run.
With the 10-year Treasury up 3.7 basis points to reach 1.499% on Monday, investors look for clues on Fed’s policy update on Wednesday to predict further moves.
Investors expect a dovish Fed, with rates kept unchanged until inflation and economic goals are met.
JPM: NYSE is down 0.11% on premarket.
