JPMorgan Chase CEO James Dimon, in his annual letter to shareholders, discusses a wide-ranging spectrum of issues way beyond the performance of the bank. Practically buried in the very long letter is a warning about the stock and bond markets, the difficulties they may face as inflation may be rising faster than people now expect, and as the Fed may raise rates faster than people now expect, while at the same time unwinding QE, which has never been done before on this scale, and whose consequences remain unknown.
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