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JPMorgan Chase's COO talks economy, what he thinks the Fed will do with interest rates [FOX Business Network]

JP Morgan Chase & Co. (JPM) 
Last jp morgan chase & co. earnings: 4/14 06:43 am Check Earnings Report
Pinto described the economy – both globally and in the U.S. — as "at least for now doing fine," adding "there is growth" in Europe, America and other parts of the world. He noted the "impact of interest rates always have a lag," something he said he thought would happen "for sure." "There are some indications where you see that there are some signs of slowdown," Pinto said about the U.S. at the AllianceBernstein Strategic Decisions Conference. "You saw today the unemployment rate going up and some numbers in the employment numbers — not necessarily the payroll numbers today but others — they are showing some degree of a slowdown." US JOB GROWTH UNEXPECTEDLY JUMPS IN MAY AS ECONOMY ADDS 339,000 NEW POSITIONS The Bureau of Labor Statistics reported earlier Friday that the unemployment rate was 3.7% in May, up 3.4% from April. "I think that my view is that it's likely the Fed will get to run toward 5.5%, and they will pause," Pinto said at the conference. "And then time will t Show less Read more
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