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☆ Jamie Dimon says AI will have 'extraordinary' consequences and may be as transformative as electricity and the internet
▼ + stars: | 2024-04-08 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +1 min

Jamie Dimon compared the potential impact of artificial intelligence to innovations like the internet. He said JPMorgan Chase now has 2,000 AI experts working in areas such as fraud and risk. Dimon flagged that AI risks need to be rigorously managed and ethics maintained. AdvertisementJamie Dimon compared the potential impact of artificial intelligence to that of other innovations in history including the "printing press, the steam engine, electricity, computing and the internet." This story is available exclusively to Business Insider subscribers.

Persons: Jamie Dimon, JPMorgan Chase, — Organizations: JPMorgan, Service, Business

☆ Jamie Dimon says AI may be as impactful on humanity as printing press, electricity and computers
▼ + stars: | 2024-04-08 | by ( Hugh Son | ) www.cnbc.com time to read: +2 min

Jamie Dimon, CEO of JPMorgan Chase, testifies during the Senate Banking, Housing and Urban Affairs Committee hearing titled Annual Oversight of Wall Street Firms, in the Hart Building on Dec. 6, 2023. Jamie Dimon, the veteran CEO and chairman of JPMorgan Chase , said he was convinced that artificial intelligence will have a profound impact on society. In his annual letter to shareholders released Monday, Dimon chose AI as the first topic in his update of issues facing the biggest U.S. bank by assets — ahead of geopolitical risks, recent acquisitions and regulatory matters. But his focus on AI, first mentioned in Dimon's annual letter in 2017, stood out. Enthusiasm for AI has fueled the meteoric rise of chipmaker Nvidia and helped propel tech names to new heights.

Persons: Jamie Dimon, JPMorgan Chase, Dimon, OpenAI's ChatGPT Organizations: JPMorgan, Banking, Housing, Urban Affairs Committee, Wall Street Firms, Nvidia

☆ JPMorgan's Jamie Dimon warns the world is on fire — and plenty of people are way too bullish
▼ + stars: | 2024-04-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

In his annual letter to JPMorgan shareholders, Jamie Dimon rang the alarm on geopolitical tensions. The bank's CEO said investors were too optimistic about inflation, interest rates, and the economy. AdvertisementJamie Dimon is deeply concerned about international relations — and worries investors are too optimistic about threats such as inflation, interest rates, and recession. AdvertisementIndeed, Dimon said JPMorgan was ready for rates of 2% to 8% or even higher. He flagged the possibility of stagflation, which could usher in higher rates, large credit losses, a slump in business volumes, and tough markets.

Persons: Jamie Dimon, —, Dimon, Sharp, he's Organizations: JPMorgan, Service, Federal, Wall Locations: Ukraine, China

Jamie Dimon sees America at a ‘Pivotal Moment’Jamie Dimon’s annual letter to JPMorgan Chase shareholders has just been published. The economy is resilient but the government underpinning it is a red flag. Consumers are spending and investors expect a soft landing. But Dimon warns that the economy is being fueled by government spending and rising deficits. “These markets seem to be pricing in at a 70% to 80% chance of a soft landing — modest growth along with declining inflation and interest rates,” Dimon writes, adding that the odds are actually a lot lower.

Persons: Jamie Dimon, Jamie Dimon’s, Dimon, ”, ” Dimon Organizations: JPMorgan Chase Locations: America, Ukraine

☆ Swelling US debt could tip US markets into crisis as soon as next year, Wharton professor says
▼ + stars: | 2024-04-04 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Market chaos could come next year if the US doesn't adjust its fiscal path, Joao Gomes told CNBC. The US can't afford to extend tax cuts next year, he said. If it doesn't adjust its fiscal trajectory soon, 2025 could be the year when markets start to roil, Wharton professor Joao Gomes warned. "That's something that could definitely happen to us next year," Gomes told CNBC on Thursday. "I think we'll have a serious debate next year about the tax cuts and whether to extend them or not," he said.

Persons: Joao Gomes, Wharton, —, It's, Gomes, Maya MacGuineas, Gomes isn't, Jamie Dimon, Ken Griffin Organizations: CNBC, US, Service, Bank of America, Penn Wharton Budget Model, Trump Administration, White House, Federal, Wall Locations: roil

☆ Bob Iger may prevail in Disney’s boardroom showdown, but the battle has not left him unscathed
▼ + stars: | 2024-04-03 | by ( Oliver Darcy | ) edition.cnn.com time to read: +6 min

New York CNN —The battle for the future of Disney is about to reach its epic conclusion. Nelson Peltz, founder and chief executive officer of Trian Fund Management, has continually criticized Disney CEO Bob Iger. The forces that have tormented Iger will be banished to the shadows, exiled outside of the Magic Kingdom for now. The "Partners" statue of Walt Disney and Mickey Mouse, at Cinderella Castle at the Magic Kingdom, at Walt Disney World. The future of Disney is up for grabs in the proxy-fight between Iger and Peltz.

Persons: Nelson Peltz, Bob Iger, Peltz, Jay Rasulo, Rasulo, Disney’s “, Marco Bello, Iger, Bob Chapek, ” Barton Crockett, CNN’s, Samantha Delouya, George Lucas, Laurene Powell Jobs, Morgan, Jamie Dimon, Walt, Roy Disney, Abigail Disney, Ike Perlmutter, Trian, they’ll, Walt Disney, Mickey Mouse, Joe Burbank, ”, it’s, King, Hollywood, “ Iger Organizations: New York CNN, Disney, Trian, Management, Netflix, Trian Fund Management, Bloomberg, Rosenblatt Securities, “, Former Marvel Entertainment, Services, Magic Kingdom, Magic, Walt Disney World, Orlando Sentinel, Tribune, Service Locations: New York, Iger

☆ Disney's largest shareholder Vanguard reportedly backing management over Peltz in board fight
▼ + stars: | 2024-04-02 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Disney's largest shareholder, index fund manager Vanguard, plans to support management over Nelson Peltz's Trian Partners in Wednesday's board vote, Bloomberg News reported Tuesday, citing unnamed people familiar with the matter. Vanguard owns 7.8% of Disney shares. BlackRock , Disney's second -largest shareholder with 4.2% of shares, is also supporting the incumbent board and CEO Bob Iger, The Wall Street Journal reported Monday. The reporting on how Disney's largest shareholders are supposedly voting prompted harsh criticism from one-time shareholder activist Bill Ackman on Tuesday evening. Through an arrangement with former Marvel Chairman Ike Perlmutter, Trian controls 1.8% of Disney shares, making it the fifth largest shareholder.

Persons: Bob Iger, Nelson Peltz's, Disney's, Bill Ackman, Ackman, Ike Perlmutter, Trian, Neuberger Berman, CalPERS, Jamie Dimon, George Lucas Organizations: Walt Disney Company, Shanghai Disney Resort's, Shanghai Disney Resort, Vanguard, Nelson Peltz's Trian Partners, Bloomberg News, Institutional, Disney, BlackRock, Street, Geode Capital Management, Marvel, Retail, JPMorgan Chase, Star Wars, CNBC, Bloomberg Locations: Shanghai, China, Disney's

☆ The battle over Disney’s future is about to be decided in a high stakes board vote
▼ + stars: | 2024-04-02 | by ( Hadas Gold | Samantha Delouya | ) edition.cnn.com time to read: +8 min

Two competing slates of board seats are now up for a vote against Disney’s. Peltz has criticized Disney’s recent theatrical flops and said the company should reach “Netflix-like margins” with its Disney+ streaming service, among other issues. If Peltz is successful, he and Rasulo could gain up to two seats on the board, displacing Disney’s picks. More than 35% of Disney’s shares are held by these individuals, who could seriously sway the vote. The influential advisory firms Institutional Shareholder Service and Egan-Jones have also thrown their support behind Peltz for at least one seat on the board.

Persons: Nelson Peltz, Jay Rasulo, Peltz, Ike Perlmutter, Bob Iger, ” Barton Crockett, Disney, ” Trian, Rasulo, Iger, Bob Chapek, Peltz —, —, It’s, ” Peltz, Perlmutter, ”, “ They’ve, ’ ” Crockett, Anna, Elsa, Ludwig Von Drake, “ Disney, George Lucas, Jamie Dimon, Michael Eisner, Laurene Powell Jobs, Abigail E, they’ve, ” Jessica Reif Ehrlich, “ Nelson Peltz, Neuberger Berman, Egan, Jones, ” Crocket, CNN’s Liam Reilly, Krystal Hur Organizations: CNN, Disney, Magic Kingdom, Disney’s, Trian Fund Management, Blackwells, Marvel, Netflix, Rosenblatt Securities, ESPN, ABC, Google, JPMorgan Chase, BofA Securities, California, Service Locations: Trian

☆ Premarket stocks: Warren Buffett’s favorite indicator is flashing red
▼ + stars: | 2024-03-27 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN —The “Buffett Indicator” is flashing red. If the stock market is growing a lot faster than the economy, that could be a sign of a bubble. Yes, but: The so-called Buffett Indicator is not without flaw. By the closing bell, Trump Media ended at $57.99, up by a more modest 16% on the day. He said Trump Media is likely worth somewhere around $2 a share — nowhere near its closing stock price of $58.

Persons: Warren Buffett, Fortune Magazine “, Berkshire Hathaway, John Hussman, Hussman, Larry Summers, “, ”, Louis Navellier, Goldman Sachs, Navellier, doesn’t, Buffett, they’re, Jamie Dimon, Kevin Gordon, Charles Schwab, Elisabeth Buchwald, Donald Trump’s, CNN’s Matt Egan, Jay Ritter, Ritter Organizations: CNN Business, Bell, New York CNN, Fortune Magazine, Nvidia, Federal Reserve, Bloomberg, Navellier, Associates, “, JPMorgan, CNBC, CNN, Visa, Mastercard, Court, Eastern, of, National Retail Federation, Trading, Trump Media & Technology Group, Trump Media, University of Florida’s Warrington College of Business, GameStop, AMC Locations: New York, of New York

☆ Buy these 10 bank stocks now before the Federal Reserve cuts interest rates, according to Bank of America
▼ + stars: | 2024-03-24 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Plus, falling interest rates and continued economic growth would be tailwinds. The aforementioned catalysts are still in place — including interest rate cuts, as investors discovered a day earlier. Until then, the firm believes bank stocks can outperform into the first-quarter earnings season. 6 regional bank stocks worth buyingThe continued rally in financials will be powered in large part by regional banks, BofA believes. "We see the capital markets momentum continuing into 2025, which should drive investor interest in both stocks," Poonawala wrote.

Persons: Financials, Ebrahim Poonawala, Poonawala, BofA, Goldman Sachs, Morgan Stanley, Wells Fargo, Charlie Scharf, Jamie Dimon Organizations: of America, Business, Federal Reserve, Investors, Bank of America, First Bancorp, FNB Corp, Truist, US Bancorp, Western Alliance, JPMorgan, Wall, titans Locations: financials, Wells Fargo

☆ Buy these five non-tech stocks that are well positioned for the long haul, Bank of America says
▼ + stars: | 2024-03-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Shares of Nvidia are red hot, but Bank of America thinks there's a slew of other stocks that investors should consider. They include: Super Micro Computer, Kroger, Burlington, JPMorgan Chase and TJX Companies. Kroger Analyst Robert Ohmes said Kroger is firing on all cylinders even as grocery prices remain high. And like Kroger, share gains are aplenty as new store openings continue coming online. Given its turnaround momentum and ongoing favorable off-price retail fundamentals, Burlington is well positioned for outperformance, in our view."

Persons: there's, JPMorgan Chase, Robert Ohmes, Kroger, Ohmes, Lorraine Hutchinson, Hutchinson, Ebrahim Poonawala, Jamie Dimon, Poonawala, BofA, TJX, BURL Organizations: Nvidia, Bank of America, CNBC, Computer, Kroger, JPMorgan, TJX Companies, Burlington, JPMorgan Chase, Artificial Intelligence Locations: Burlington

☆ Advisory firm ISS tells Disney shareholders to side with Nelson Peltz in proxy fight
▼ + stars: | 2024-03-21 | by ( Michele Luhn | ) www.cnbc.com time to read: +3 min

Proxy advisory firm Institutional Shareholder Services on Thursday recommended that Walt Disney shareholders elect activist investor Nelson Peltz to the board in his bitter fight against CEO Bob Iger. While siding with Peltz, ISS told shareholders not to back Rasulo in the fight, citing his previous positioning as a potential successor to Iger. "Though we do not have any concerns about his ability to serve as an objective director, we recognize that Rasulo's potential presence might create added friction on the board," ISS said. Another proxy advisory firm, Glass Lewis, earlier this week endorsed Disney's slate of board nominees. Large institutional shareholders will often — but not always — vote based on the recommendation of either of the two proxy advisory firms.

Persons: Nelson Peltz, Bob Iger, Peltz, Jay Rasulo, Iger, Trian, Maria Elena Lagomasino, Disney, Blackwells, Roy Disney, Jamie Dimon, George Lucas, Glass Lewis, Lewis, — CNBC's Rohan Goswami Organizations: Walt Disney, New York Stock Exchange, Services, Trian Fund Management, Disney, ISS, JPMorgan Chase, Disney's

☆ George Lucas backs Disney CEO Bob Iger in proxy fight with Nelson Peltz
▼ + stars: | 2024-03-19 | by ( Becky Quick | ) www.cnbc.com time to read: +2 min

Filmmaker and Hollywood legend George Lucas is throwing his support behind Walt Disney CEO Bob Iger in the bitter proxy battle between the company and activist investor Nelson Peltz. Lucas, who received 37.1 million Disney shares as part of Disney's $4.05 billion purchase of Lucasfilm in 2012, is currently the largest individual investor in the company, multiple sources confirmed to CNBC. When I sold Lucasfilm just over a decade ago, I was delighted to become a Disney shareholder because of my long-time admiration for its iconic brand and Bob Iger's leadership. I have voted all of my shares for Disney's 12 directors and urge other shareholders to do the same." Iger, meanwhile, has been trying to streamline the sprawling media company to rein in spending and make its Disney+ streaming platform profitable.

Persons: George Lucas, Walt, Bob Iger, Nelson Peltz, Lucas, Bob Iger's, Bob, Peltz, Roy Disney, Jamie Dimon, Indiana Jones, Jay Rasulo, Iger Organizations: Walt Disney, Lucasfilm, CNBC, Disney, Trian Fund Management, JPMorgan Chase Locations: Hollywood

☆ Here's what bitcoin experts see ahead for the world's biggest cryptocurrency
▼ + stars: | 2024-03-17 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +5 min

The narrative on bitcoin is still bullish, though commentators see more volatility ahead. Bernstein analysts wrote this week that the rally firms up their view that bitcoin is on track to hit $150,000 by mid-2025. Here's what some of the market's top commentators have said about the outlook for the world's most popular cryptocurrency. Related stories"We built bitcoin institutional flows in our estimates to arrive at bitcoin price. Saylor said that following the bitcoin halving in April, dwindling supplies would continue to fuel demand, propelling the price momentum even higher, saying "the natural sellers are the miners."

Persons: Bitcoin, Bernstein, —, Kris Marszalek, Gautam Chhugani, Mahika Sapra, Michael Novogratz, Jamie Dimon, He's, Michael Saylor, Saylor Organizations: Service, CNBC, Galaxy, Galaxy Digital, Wednesday, JPMorgan JPMorgan, Australian Financial

☆ American workers are losing confidence in their CEOs
▼ + stars: | 2024-03-17 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

47% of workers said they felt worried about their job security, according to a 2023 survey conducted by McKinsey & Company. AdvertisementThe job market looks to be cooling off even as the economy looks like it is going strong. New LandscapeFor disgruntled workers, it may help to hear that CEOs also are getting pushed out at the fastest pace in decades. The job market is expected to slow in 2024, he estimated, pointing to the deceleration in hiring activity. AdvertisementTotal full-time workers declined in February, the first decline posted since the pandemic, according to the Bureau of Labor Statistics.

Persons: —, Daniel Zhao, Zhao, Jamie Dimon, Andrew Challenger, Challenger, Zhao doesn't Organizations: Service, Business, Glassdoor, JPMorgan, McKinsey & Company, Challenger, Bureau of Labor Statistics

☆ Britain's royal family should follow the lead of major CEOs when it comes to transparency, says expert
▼ + stars: | 2024-03-16 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +6 min

The royal household is exempt from freedom of information laws in the UK since it isn't a public authority. Hay suggested that the monarchy should follow the lead of major companies that have been transparent when a CEO becomes unwell. While Kensington Palace was clear that it wouldn't provide a "running commentary" on the princess' well-being, that didn't stop conspiracy theories on her whereabouts. Meanwhile, CNN said it was reviewing all Kensington Palace handouts in light of the incident. Kensington Palace did not immediately respond to a request for comment.

Persons: Kate, —, Bob Krist, George Hay, Hay, JP Morgan Chase, Jamie Dimon, António, Osório, Prince William, Catherine, Duchess, Chris Jackson, Phil Chetwynd, Buckingham, King Charles, Charles III, Max Mumby, Graham Smith, Jack Royston, Royston, Kensington Organizations: Service, Brand Finance, Windsor, Getty, Tourism, Frogmore, Reuters, Barclays, CNBC, Lloyds Banking Group, BBC News, BBC, AFP, CNN, YouGov Locations: London, Britain, António Horta, Horta, Kensington, Cambridge, Belgium, Greece, Bulgaria, Republic

☆ Democrats cite AI gains and automation in Senate bill calling for 32-hour workweek
▼ + stars: | 2024-03-14 | by ( Ryan Anastasio | ) www.cnbc.com time to read: +4 min

Sen. Bernie Sanders and Senate Democrats cited advances in artificial intelligence and automation Thursday as they argued for a new bill that would mandate a 32-hour federal workweek. "The sad reality is Americans now work more hours than the people of any other wealthy nation," the Vermont independent later said. The bill introduced by the committee chair Sanders and Sen. Laphonza Butler, D-Calif., would gradually reduce the standard workweek from 40 hours to 32 hours over four years. Sanders and Democrats at Thursday's hearing said that reducing the workweek would allow people to spend more time with family and on hobbies. "This would be napalm upon the fire of inflation," said Sen. Bill Cassidy of Louisiana, and the ranking Republican on the Health, Education, Labor and Pensions Committee.

Persons: Bernie Sanders, Sen, Bill Cassidy, Sanders, Laphonza Butler, Mark Takano, Jamie Dimon, Bill Gates, Chris Murphy, Conn, Bill Cassidy of, Mike Braun, Juliet Schor, Schor, Jon Leland, Leland, Liberty Vittert, Vitter, Vittert, St . Louis, Cassidy, They're Organizations: Health, Education, Labor, Pensions, Employers, Representatives, JPMorgan, Microsoft, Republican, Boston College, Washington University Locations: Dirksen, Washington , DC, Vermont, D, Bill Cassidy of Louisiana, Indiana, St .

☆ YouTube's mass exodus of stars show the uncertainty of the creator economy
▼ + stars: | 2024-03-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at a potential exodus of stars from YouTube and what it means for the creator economy. What's on deck:This story is available exclusively to Business Insider subscribers. AdvertisementBut some people who helped fuel YouTube's rise are walking away from the platform that gave them their big break. TikTok's challenges represent the ongoing uncertainty content creators face trying to make a living in such an unpredictable and shrinking world.

Persons: —, we've, Rebecca Zisser, It's, Insider's Lindsay Dodgson, MatPat, Lindsay, Andy Kiersz, Critics, it's, Alistair Barr, Dan, Jamie Dimon doesn't, Dimon, Karim Qubadi, Abanti Chowdhury, OpenAI, Musk's, Christopher Nolan's, Tyler Le, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, YouTube, Business, Nielsen, Gaming, ISI, SensorTower, BI, CPI, JPMorgan, Elon, University of Chicago, Quest, realtors, Meta, Google, Companies, Adidas Locations: United States, New York, London

☆ Faber Report: Jamie Dimon endorses Disney CEO Bob Iger in proxy fight with Trian Partners
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFaber Report: Jamie Dimon endorses Disney CEO Bob Iger in proxy fight with Trian PartnersCNBC’s David Faber reports on the latest developments on Disney's proxy battle with Trian Partners' Nelson Peltz.

Persons: Jamie Dimon, Bob Iger, Trian Partners CNBC’s David Faber, Nelson Peltz Organizations: Disney, Trian Partners

☆ Jamie Dimon endorses Disney CEO Bob Iger in proxy fight with Nelson Peltz's Trian Partners
▼ + stars: | 2024-03-13 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Bob Iger, Chairman and CEO of Walt Disney (C) speaks next to Jamie Dimon(L), Chairman & CEO of JP Morgan Chase & Co during the Bloomberg Global Business Forum in New York on September 25, 2019. Trian, run by Nelson Peltz, launched an intense proxy fight against Disney, asking investors to nominate him and former Disney Chief Financial Officer Jay Rasulo to the board at its annual general meeting on April 3. Dimon gave the following statement on Iger to Faber:JPMorgan Chase CEO Jamie Dimon endorsed Disney CEO Bob Iger in his proxy battle with activist Trian Partners, CNBC's David Faber has learned. Meanwhile, Iger has been trying to streamline the sprawling media company to rein in spending and make its Disney+ streaming platform profitable. Dimon rarely weighs in on proxy battles, while JPMorgan does have a history of advising Disney on defensive matters.

Persons: Bob Iger, Walt Disney, Jamie Dimon, JP Morgan Chase, Nelson Peltz, Jay Rasulo, Bob, Dimon, Iger, Faber, Trian, CNBC's David Faber, Peltz Organizations: Walt, Co, Bloomberg Global Business, Disney, JPMorgan Chase, Trian Partners, Netflix, JPMorgan Locations: New York

☆ Jamie Dimon says the Fed should wait on the rate cuts as its credibility is 'a bit at stake'
▼ + stars: | 2024-03-12 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

JP Morgan Chase CEO Jamie Dimon said the US Federal Reserve should delay cutting interest rates until the second half of the year. He said the Fed should wait for more data before cutting rates. Despite the market's optimism for a soft landing, Dimon says there's a 65% chance of a recession in the next two years. AdvertisementThe US Federal Reserve should wait until the second half of the year before cutting interest rates, JP Morgan Chase CEO Jamie Dimon said on Tuesday. So, the market is pricing in a 70% to 80% chance of a soft landing.

Persons: Morgan Chase, Jamie Dimon, there's, —, JP Morgan Chase, “, Dimon, ” Organizations: US, Reserve, Service, Federal, Australian Financial, Business

☆ 3 hot stocks rally after sharp back-to-back losses. Plus, 1 stock to consider buying
▼ + stars: | 2024-03-12 | by ( Morgan Chittum | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, We're, Jamie Dimon, Jim, Dimon, Eli Lilly, it's, Jim Cramer's Organizations: CNBC, Nasdaq, JPMorgan, Oracle, Nvidia, Costco, Broadcom

☆ Now comes the hard part for the Fed to achieve its goal of getting inflation to 2%
▼ + stars: | 2024-03-12 | by ( Jeff Cox | ) www.cnbc.com time to read: +4 min

Core services costs excluding housing services — "supercore" inflation, as it has become known — remain elevated but at least the pace of increase, at 0.5%, has eased. "The 'last mile' problem for the central bank is the inflation in service prices, which is partly attributed to the tight labor market in sectors such as healthcare, leisure, hospitality, and construction. "This type of inflation, often termed 'cost-push inflation,' may not react straightforwardly to changes in interest rates." "Wage growth was significantly slower, the labor market wasn't as tight," PNC's Faucher said. "It wasn't that long ago, but it was a different economy than it is now, with some of those [current] post-pandemic effects of the tight housing market and the tight labor market."

Persons: Gus Faucher, Dow Jones, Sung Won Sohn, PNC's Faucher, Faucher, JPMorgan Chase, Jamie Dimon, That's Organizations: Federal, PNC Financial Services, CPI, Bureau of Labor Statistics, Loyola Marymount University, SS Economics, Fed, JPMorgan, Monday

☆ How Fed Chair Jerome Powell's big decision could impact the upcoming presidential election
▼ + stars: | 2024-03-11 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, Fed Chair Jerome Powell's rate-cut decision could impact the upcoming presidential election . The decision, which has massive economic implications, is now butting up against another monumental event: a US presidential election. AdvertisementThe collision course puts an incredible amount of power in Fed chair Jerome Powell's hands , Business Insider's Emily Stewart writes. The two Wall Street titans are no longer expecting a recession , with inflation cooling and the job market holding steady. Recent graduates are adjusting their career expectations amid signs that the job market is starting to weaken, according to labor experts.

Persons: —, Jerome Powell's, Powell, Chip Somodevilla, Matt Rourke, Sarah Silbiger, Alyssa Powell, Emily Stewart, It's, He's, Biden, Robert Alexander, Getty, Joe Biden, David Rosenberg, it's, BEOWULF SHEEHAN, Tyler Le, Carrie Sun, Chase Coleman, Jamie Dimon, Ray Dalio, Chelsea Jia Feng, Elon Musk, Tesla, Musk, Lily Lyman, who's, Dealogic, Anson Chan, Lil Wayne, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Service, Bloomberg, Getty, Federal Reserve, Trump, Wall, titans, Chelsea, Tesla, Nvidia, BI, Medical Properties Trust Locations: Powell, New York, London

☆ JPMorgan's Dimon urges US Fed to wait past June before cutting rates
▼ + stars: | 2024-03-11 | by ( ) www.cnbc.com time to read: +2 min

(Photo by Win McNamee/Getty Images)JPMorgan CEO Jamie Dimon on Tuesday urged the Federal Reserve to wait past June before cutting interest rates, arguing the central bank needs to shore up its inflation-fighting credibility. If I were them, I would wait," Dimon said at the Australian Financial Review business summit via a livestream from New York. I would even wait past June and let it all sort it out." Long a critic of bitcoin, Dimon said a lot of the practical uses for the cryptocurrency were illegal activity like sex trafficking, fraud and terrorism. Dimon also weighed in on artificial intelligence and said JPMorgan had two thousand people working on 400 use cases for the technology at the bank.

Persons: Jamie Dimon, JPMorgan Chase, Win McNamee, Dimon, Long, bitcoin Organizations: JPMorgan, Wall, Federal Reserve, Australian Financial Locations: Hart, Washington ,, New York, U.S, Ukraine, Gaza

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