Jamie Dimon told jimcramer Thursday that the Federal Reserve has 'lost a little bit of control of inflation.'
, which showed members remain resolved to fight persistent inflation.
"Participants noted that inflation data received over the past three months showed a welcome reduction in the monthly pace of price increases but stressed that substantially more evidence of progress across a broader range of prices would be required to be confident that inflation was on a sustained downward path," the minutes said.
Dimon himself said he expects that interest rates could "possibly" remain higher for longer, as it may take the central bank "a while" to get to its goal of 2% inflation. Even so, the JPMorgan CEO said he's not currently breaking out the recession playbook, as he is encouraged by the strength of the U.S. economy.
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