jpmorgan chase  co jpm ceo jamie dimon reportedly said on thursday that reining in inflation is a work in progress for the federal reserve while also observing that the us economy continues to display signs of strength i have all the respect for fed chair jerome powell but the fact is we lost a little bit of control of inflation dimon said in an interview with cnbcs jim cramer dimons comments come in the backdrop of the release of the minutes of the federal open market committees policy meeting in early february the minutes stated although the participants agreed there were recent signs of inflationary pressures moderating it remained well above the committees longerrun goal of 2 and that the labor market remained very tight contributing to continuing upward pressures on wages and prices major wall street indices closed in the green on thursday with the sp 500 ending a fourday losing streak initial claims for state unemployment benefits reduced by 3000 to a seasonally adjusted 192000 for the week ended feb 18 reported reuters citing the labor department the spdr sp 500 etf trust spy closed 053 higher while the vanguard total bond market index fund etf bnd gained 036 higher rates dimon said he expects interest rates may remain higher for longer as the central bank could take time to get to its goal of 2 inflation the us economy right now is doing quite well consumers have a lot of money theyre spending it jobs are plentiful dimon said thats today out in front of us theres some scary stuff you and i know theres always uncertainty thats a normal thing he said read next larry summers points out us never evaded a recession at these unemployment inflation levels ‘powerful historical truth’