JPMorgan (JPM) CEO Dimon says there's a risk that inflation is sticky and rates go up, Bloomberg reports

Remarks from a sitting JPMorgan chief executive on inflation and rates function as a sentiment signal rather than new information, since the bank's chief is among the most widely syndicated voices on the macro outlook and has a long record of flagging tail risks that do not always materialise. Past instances of prominent bank heads warning on sticky inflation have tended to be absorbed as commentary rather than repricing events, with any front-end reaction fading unless echoed by official-sector speakers. The transmission, when it occurs, runs through the belly and front end of the nominal curve and, secondarily, through rate-sensitive equity cohorts where banks themselves benefit from higher-for-longer net interest income while rate-long sectors lose. The distinction worth drawing is between warnings framed on current data and those framed on structural forces such as fiscal deficits, deglobalisation and energy transition costs, the latter being a recurring theme from this source. What follows is whether Fed officials or subsequent inflation prints align with the view, which is the point at which such commentary historically gains traction. As an opinion rather than a release, the signal is directional at most.