Jamie Dimon said the Fed's benchmark rate will likely have to go beyond 4% to 4.5%, per Bloomberg. The Fed's benchmark rate is now in the 3% to 3.25% range, after five rate hikes this year so far. Speaking at an industry conference in Washington, Dimon said his "gut" told him that the Fed's benchmark rate will have to go beyond the 4% to 4.5% many economists are forecasting, to keep inflation in check. After starting the year near zero, the central bank's benchmark rate now sits in the 3% to 3.25% range, following five rate hikes. The rate hikes have seen larger increases at a faster pace over the months.

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