JPMorgan CEO Jamie Dimon said that whether the Fed cuts rates by 25 or 50 basis points, it won't be "earth-shattering." "They need to do this," Dimon said at a meeting on Tuesday. But "Fed rate hikes and cuts are small things because the real economy is behind them." The Fed is expected to make its first rate cut in over four years this week, but bond traders are divided on whether the Fed will cut by 25 or 50 basis points. Dimon said last month that there is still a lot of economic uncertainty related to geopolitical issues and algo tightening, and the Fed may cut rates soon, but "I don't think the importance of rate cuts is as big as others imagine." For over a year, he has been warning that inflation may be stickier than investors expect, and in April, he said in the annual shareholder letter that the bank is prepared for a rate range of 2% to 8%, "or even higher." "People focus too much on 'will we have a soft landing or a hard landing?" Dimon said. "Honestly, most of us have been through these things. It's not a big deal."