According to the app of China Fortune, jpmorgan's CEO Jamie Damon stated on Friday that following the first rate cut by the Federal Reserve in over four years, he still holds a skeptical attitude towards whether the US economy can achieve a soft landing and mentioned that he will not take this result lightly.

He said: "I am more skeptical than others. I think this possibility is lower. I hope it's true, but I'm also more skeptical that inflation will disappear so easily, not because it hasn't fallen, but it has fallen and can fall further."

Damon added that the rate cut has almost no impact on the US presidential election.

The Federal Reserve lowered the benchmark interest rate by 50 basis points on Wednesday, aiming for a so-called "soft landing." Prior to this announcement, Damon stated that whether the Fed would cut rates by 25 or 50 basis points, it would not be "earth-shattering."

For over a year, Damon has been warning that US inflation may be trickier than investors anticipate, due to reasons such as deficit spending and "global remilitarization." In April this year, he wrote in the annual letter to shareholders that jpmorgan is prepared for interest rates of 2% to 8% or higher.

Damon stated regarding the outcome of a soft landing, "I won't take it lightly." "We may have already transitioned from lower rates, lower inflation to slightly higher rates, higher inflation. In the future, regardless of the outcome, we will deal with it. Economists are accustomed to dealing with such situations. This is not a disaster."

Editor/Emily