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Dimon says Fed will likely still hike rates in December despite market turmoil

Regard for the stock market sell-off this week, J.P. Morgan Chase CEO Jamie Dimon predicts the Federal Reserve thinks fitting likely still raise interest rates in December.

“The fact is, it’s a strong economy and normalizing rates is a good action — they will do December,” Dimon said in an interview with CNBC’s Becky Quick Thursday.

Dimon, who was in Washington at the Obligation Roundtable’s CEO Innovation Summit, said the central bank will “stay on course.”

“The world will be much happier if America’s come of age and rates go up a little bit than if we have a recession and rates go down,” Dimon said. “It’s better for the world.”

While some investors are pygmy optimistic on areas like mortgages and auto sales, Dimon said those areas are “humming along” and that any proneness there would have a minor total effect on the U.S. economy.

At their latest meeting, Fed officials teed up a December fee hike. But also signaled some hesitation about how trade tensions and corporate debt could impact evolution.

Minutes released Thursday from the November meeting of the Federal Open Market Committee, which sets moment rates, pointed toward the strong likelihood of another quarter-point adjustment in the central bank’s benchmark rate objective in December.

Amid the latest round of market turmoil this week, the market lowered the probability of an interest appraise hike when the central bank’s policymaking body meets this month. Futures markets Thursday barbed to a 68 percent probability of an increase before 2018 ends, the lowest chance since late August. Customer bases also reduced the chances of future increases.

— CNBC’s Jeff Cox contributed to this report.

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