Markets, FED and Cryptocurrency Statement from JP Morgan! Bottom Found?

one of the leading bans in the USA Daniel Pinto, chairman of JP Morgan ChaseImportant statements about inflation, FED interest rate hikes and markets came from .

Speaking to CNBC, JP Morgan chief Daniel Pinto said he disagreed with the group that said the Fed should slow or stop interest rate hikes.

“I think it’s very important to put inflation back in a box. But if inflation is to cause a deeper recession for a while, that’s the price we have to pay.”

Stating that he did not agree with the “FED is very hawkish” statements, Daniel Pinto said, “The FED cannot allow inflation to take root in the economy. An early return to loose monetary policy risks repeating the mistakes of the 1970s and 1980s. said.

Evaluating the issue that the world and the USA are facing a recession, the president of JP Morgan thinks that the bottom is still not seen in the markets.

Stating that they are dealing with a market that prices the possibility of recession and how deep it will be, Pinto said:

“I don’t think we’ve seen the bottom in the markets yet. When we look at the earnings reports of the companies, even when we look at their 2023 expectations, we see that the numbers are still high. We are currently facing markets pricing in a possible recession.”

Finally cryptocurrencies Commenting on Pinto, the post-financial crisis era Bitcoin (BTC) He stated that it has revealed new forms of digital money such as:

“The truth is, cryptocurrencies at the moment have become a small asset class that is irrelevant to the schema of events.

But the technology, the concepts, there will probably be something there; not just in its current form.”