JPMorgan Chase CEO Dimon: Fed's 50 bps rate cut may be the right thing to do

JPMorgan Chase CEO Dimon is cautious about whether the US economy is achieving a soft landing and says the Fed is doing the right thing by cutting interest rates. He said: ‘A 50 basis point cut in interest rates may be the right choice. But Dimon expressed scepticism about the US economy and its market pricing, saying: ‘I'm a long-term optimist, but in the short term I'm more sceptical of those who say everything will be fine. Market pricing suggests everything will be fine. Let me err on the side of caution.’