Dimon Warns of US Stagflation Risk, Says Fed Right to Hold (2)

Jamie Dimon said he can’t rule out the possibility of stagflation as the US grapples with huge risks from geopolitics, deficits and price pressures.

“I don’t agree that we’re in a sweet spot,” the JPMorgan Chase & Co.chief executive officer said in a Bloomberg Television interview at the lender’s Global China Summit in Shanghai. The US Federal Reserve is doing the right thing to wait and see before making changes to interest-rate policy, he said.

Fed officials have held interest rates steady this year amid a solid economic backdrop and uncertainty about government policy changes ...