When Jamie Dimon looks over the horizon, he sees sticky inflation.  “I don’t see anything that is future disinflationary.”  Mr. Dimon also thinks that quantitative tightening will eventually “rattle the markets.”

The Fed will more than likely need to raise rates again.  10-year bond yields should rise.  The size of the deficits, quantitative tightening, and nations selling will add to the supply.  However, he doesn’t think we’ll have a “Volcker Recession” where interest rates hit over 14% and unemployment goes over 10%.  The consumer and labor markets are strong this time.