Jamie Dimon says the Federal Reserve has 'lost a little bit of control of inflation'

JPMorgan Chase CEO Jamie Dimon said Thursday that containing ostentation remains a enactment successful advancement for the Federal Reserve, portion noting the U.S. system continues to amusement signs of strength.

"I person each the respect for [Fed Chair Jerome] Powell, but the information is we mislaid a small spot of power of inflation," Dimon said successful an interrogation with CNBC's Jim Cramer during the "Halftime Report." It's the archetypal of a two-part interrogation with Cramer, with the 2nd installment airing aboriginal Thursday connected "Mad Money."

Dimon's comments came 1 time aft the Fed released the minutes from its Jan. 31-Feb.1 meeting, which showed members stay resolved to combat persistent inflation.

"Participants noted that ostentation information received implicit the past 3 months showed a invited simplification successful the monthly gait of terms increases but stressed that substantially much grounds of advancement crossed a broader scope of prices would beryllium required to beryllium assured that ostentation was connected a sustained downward path," the minutes said.

Dimon himself said helium expects that involvement rates could "possibly" stay higher for longer, arsenic it whitethorn instrumentality the cardinal slope "a while" to get to its extremity of 2% inflation.

Even so, the JPMorgan CEO said he's not presently breaking retired the recession playbook, arsenic helium is encouraged by the spot of the U.S. economy.

"The U.S. system close present is doing rather well. Consumers person a batch of money. They're spending it. Jobs are plentiful," Dimon said. "That's today. Out successful beforehand of us, there's immoderate scary stuff. You and I cognize there's ever uncertainty. That's a mean thing."

Those comments opposition with Dimon's erstwhile remarks successful October. At that time, helium said the U.S. system volition apt autumn into a recession successful six to 9 months. In December, helium said higher ostentation was eroding user wealth, which would lead into a recession this year.

The Fed did not instantly respond to CNBC's petition for comment.