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JPMorgan president says a recession may be price to pay to beat inflation, market bottom not in yet
6:57 AM ET
Key Points

While there is a growing chorus of voices who say that the Federal Reserve should slow or halt its rate increases, JPMorgan President Daniel Pinto is not in that camp.

“I think putting inflation back in a box is very important,” Pinto told CNBC in an interview. “If it causes a slightly deeper recession for a period of time, that is the price we have to pay.”

“I don’t think we’ve seen the bottom of the market yet,” he said, adding that corporate earnings expectations were still too high.

Pinto, who leads the world’s biggest investment bank by revenue, called cryptocurrencies a small asset class that is “kind of irrelevant” at the moment.
Cont

https://www.cnbc.com/2022/10/24/jpmorgan-president-daniel-pinto-says-a-recession-is-likely-and-markets-may-fall-further-as-the-fed-raises-rates-.html