Federal Reserve News: It is almost certain that the Federal Reserve will cut interest rates on September 18. But meanwhile the market is hot with speculations about how many basis points the US Central Bank will cut. On this, Jamie Dimon, CEO of JP Morgan Chase & Co., said that even if the Federal Reserve cuts interest rates by 25 or 50 basis points, this step "will not bring about a big change."

Dimon further said, "The Fed needs to do this. But this is a small thing. The Fed raises and lowers rates because there is a real economy behind it."

Fed officials may cut interest rates this week, which would be the first time in more than four years. Ahead of this big announcement, bond traders are estimating a cut of 25 to 50 basis points. According to them, the Fed wants to maintain a soft landing. Citing inflation pressures Dimon said last month that he does not think "it matters as much as other people think." He cited the ongoing economic uncertainty and inflation pressures during this time. He has been warning for more than a year that inflation may be more persistent than investors expect and in his annual letter to shareholders in April, he wrote that his firm is ready for interest rates from 2% to 8% or more. On Tuesday, he reiterated that geopolitical issues are his biggest concern, including wars in Ukraine and the Middle East, as well as the US relationship with China. "This is more of a concern than any other I've had in the time I've been working," he said. "People focus too much on 'are we going to have a soft landing or a hard landing?' Honestly, most of us have been through all of that and it doesn't matter that much," Dimon said.