The Federal Reserve's plan to buy an unlimited amount of mortgage securities until jobs rebound has helped contribute to higher trading volumes at JP Morgan Chase but the promise to keep rates low through at least mid-2015 has hurt the investment bank's margins, Chairman and Chief Executive Jamie Dimon said during a Oct.12, conference call.

"I wouldn't give QE3 a lot of credit," Dimon said. "Clearly it helped the markets a little bit … [but] lower rates hurt the bottom line."

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