JPMorgan Chase President: Fed Isn't Too Hawkish and Crypto Is 'Kind of Irrelevant'
JPMorgan Chase’s president that crypto “is kind of irrelevant in the scheme of things.” Commenting on the U.S. economy, he defended the Federal Reserve’s hawkish stance, emphasizing that if the Fed’s action “causes a slightly deeper recession for a period of time” then “that is the price we have to pay.” JPMorgan Chase President on U.S. Economy and Recession JPMorgan Chase President Daniel Pinto commented on the U.S. economy and cryptocurrency in an interview with CNBC, published Monday. Pinto is also the global investment bank ’s chief operating officer and CEO of its Corporate & Investment Bank. The 59-year-old executive grew up in Argentina as a child where inflation was often very high, he shared, noting that living with pervasive inflation was “very, very stressful.” Price increases in Argentina averaged more than 300% a year from 1975 to 1991. Pinto opined: That’s why when people say, ‘the...