Raoul Pal: The Fed against the world means serious market and economic volatility
JPMorgan CEO Jamie Dimon has vowed to fight the Fed over capital requirements for the big banks. As we all know, the Fed is upping the amount of capital the biggest banks must have on their balance sheets in order to create a safety cushion for the next crash. The Fed’s tougher capital rules give the megabanks an incentive to shrink, but Dimon has no intention of doing that! Erin weighs in.