JPMorgan Chase is hoarding cash to armour itself against seemingly persistent inflation

Inflation apparently is not going away for the foreseeable future, keeping that in mind the CEO of JP Morgan Chase- Jamie Dimon has made an announcement that the company will be stockpiling and holding onto their cash instead of investing it in treasuries or anywhere else. He believes that there will be a significant rise in inflation and it will be difficult to bring it down soon.

In his statement, he said that “If you look at our balance sheet, we have $500 billion in cash, we’ve actually been effectively stockpiling more and more cash waiting for opportunities to invest at higher rates. I do expect to see higher rates and more inflation, and we’re prepared for that.”