Jamie Dimon, long-time CEO of JPMorgan Chase, criticized the Biden administration’s pause on new liquified natural gas (LNG) projects and gave a key warning about the future of the economy in a letter released Monday as a part of the company’s annual report.
Dimon emphasized the usefulness of LNG as a form of affordable energy for the U.S. and its allies, with the project pause increasing dependence on oil and coal and harming economic and geopolitical advantages, according to the statement. He also issued a warning for the economy that the current high rate of inflation could stick around for longer than expected, which would also mean that the Federal Reserve’s federal funds rate could remain elevated to suppress inflation amid high levels of government spending.
Click this link for the original source of this article.
Author: Marty Kaufmann
This content is courtesy of, and owned and copyrighted by, https://www.offthepress.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.