Treasury Yields Spike After Jamie Dimon Forecasts “Six Or Seven” Rate Hikes In 2022

Despite suffering the worst post-earnings stock price drop in a decade, Jamie Dimon – whose bank is suddenly facing major compensation and cost pressures – was in good enough spirits to regale participants in his earnings call with some more of his predictive prowess, the same “forecasting ability” which 4 years ago prompted him to predict that bitcoin is worthless and now JPM has a dedicated crypto desk.

According to Dimon, the Federal Reserve might raise its benchmark interest rate as many as “six or seven times” to fight rising inflation, oblivious of the fact that the US economy is already clearly slowing and six or seven rate hikes coupled with balance sheet runoff would push the US economy into recession (and likely trigger a crash as Kyle Bass said yesterday), especially once economists realize that without Biden’s BBB, the fiscal cliff is about to grow into a mountain.

Today’s retail sales

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