After the Federal Reserve significantly lowered interest rates, JP Morgan CEO poured cold water on the prospect of a "soft landing" and expressed skepticism.

Jamie Dimon, CEO of JPMorgan Chase, said on Friday that he remains skeptical about whether the US economy can achieve a soft landing after the Federal Reserve's first rate cut in over four years, and he stated that he will not take this outcome lightly. He said, "I'm more skeptical than others. I think the probability is lower. I hope it's true, but I'm also more skeptical that inflation will disappear so easily, not because it hasn't come down, but because it has come down and can come down further." Dimon added that the rate cut will have almost no impact on the US presidential election. The Federal Reserve cut its benchmark interest rate by 50 basis points on Wednesday, aiming for a so-called "soft landing." Prior to this announcement, Dimon said that whether the Fed cut rates by 25 basis points or 50, it wouldn't be "earth-shattering." For over a year, Dimon has been warning that US inflation may be trickier than investors expect, due to reasons such as deficit spending and "global re-militarization." In his annual letter to shareholders in April, he wrote that JPMorgan Chase is prepared for interest rates of 2% to 8% or higher. Dimon stated, "I will not take the result of a soft landing lightly." "We may have already transitioned from lower rates and lower inflation to slightly higher rates and higher inflation. Regardless of the outcome, we will deal with it. Economists are used to dealing with this situation. It's not a disaster."