According to Odaily Planet Daily, JPMorgan Chase CEO Jamie Dimon was cautious about whether the US economy would achieve a soft landing and said the Federal Reserve's interest rate cut was the right approach.

He thinks a 50 basis point rate cut is probably the right thing to do.

Dimon expressed skepticism about the U.S. economy and what markets are pricing in it, calling himself a long-term optimist but skeptical in the short term of those who say everything will be fine.

He said market pricing suggests all will be well, but he prefers to remain cautious.