Jamie Dimon: "The Fed doesn't really set interest rates"

• Dimon claims the Fed doesn't 'really set interest rates,' but instead responds to inflation.
• He characterizes the Fed as a 'fast follower,' adjusting rates up when inflation rises and down when it falls.
• This perspective suggests that underlying economic forces, particularly inflation, are the true drivers of interest rate movements.

Jamie Dimon, CEO of JPMorgan Chase, asserts that the Federal Reserve doesn't independently set interest rates but rather acts as a 'fast follower' of inflation. He explains that the Fed's actions to raise or lower rates are direct responses to changes in inflation, suggesting their policy is reactive to market conditions.