Any delay to Fed hikes would be harmful - JP Morgan

In a Bloomberg TV interview on Friday, JPMorgan Chase International Chairman Jacob Frenkel that Fed should remain on its track to hike rates before achieving its inflation goal.

Key Quotes:

“If you look at price pressure, yes, we are still below 2 percent, but the fact is if we wait for 2 percent to happen, we will have missed the boat because this is the trend, this is the direction” 

“You potentially may endanger the financial stability”

“I’m not saying that has happened, but I’m saying it will be very useful to have an explicit look at it and therefore restore the balance of the discussion on hiking rates, I would not call it hiking rates, I would call it normalization”