Jamie Dimon warns of economic storm clouds and higher rates.

JPMorgan Chase CEO Jamie Dimon has warned investors and businesses to prepare for interest rates to remain higher for longer than expected, which could expose problems in the economy for those too exposed to floating rates or refi risk. The Federal Reserve has pushed its core rate higher by roughly 5 full percentage points in the past year to subdue stubbornly high inflation. Dimon's warning comes after a recent regional banking crisis sparked wagers that an economic slowdown would force the Fed to pivot and cut rates later this year. There is also the risk of additional bank failures.