JPMorgan Chase Chairman and CEO Jamie Dimon said Thursday he does not see negative interest rates happening in the United States, even though they are now being used in Europe and Japan.
“In the United States, I don’t think [negative rate policy] is in the cards,” Dimon told CNBC’s “Squawk Box,” on the sidelines of the bank’s annual CEO summit. “People are kind of breathless on that one.”
“Overseas, I don’t think it’s going to work that well,” he argued, adding that negative rates will have “a lot of unintended consequences.”
Besides negative rates, investors are worried about the unwinding of quantitative easing and the economic slowdown in China, Dimon said.
“The market is sometimes irrational and sometimes rational” about such worries, he said. “I’m not going to diminish those concerns. But if China grows at 4 percent or 5 percent, and American is growing at 2 percent, that’s a good thing.”
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