PANews reported on April 6th that, according to Jinshi, JPMorgan Chase CEO Jamie Dimon stated that higher-than-expected interest rates and war-related risks could lead to more persistent inflation. He added that certain aspects of the revised Basel III and proposed additional capital requirements for global systemically important banks remain "utterly absurd." Under the revised proposal, JPMorgan Chase's additional capital requirements for global systemically important banks would only be reduced "very slightly" to approximately 5.0%. He argued that the current additional capital requirements for global systemically important banks penalize JPMorgan Chase's success; the move is "absurd" and "against the American spirit." The war in Iran increases the likelihood of a significant "oil and commodity price shock" and a reshaping of global supply chains.