Volatility in rates is to be expected as the Fed eases up on its aggressive monetary policies, Jamie Dimon, CEO of JPMorgan Chase, noted in an interview with CNBC.

Dimon noted a return to normalization is "going to have some volatility, you are going to have rates go up," he said.

Yet, when looking at the work ethic in the U.S., the country’s structure and other factors, Dimon believes "America is going to come back; and it’s going to blow people’s socks off when it does."

The JPMorgan CEO also suggested the key to a real recovery is not interest rate volatility. Six billion people in the world don’t care about that, he said. They care about jobs, so upticks in employment is key, he pointed out.

Click here to watch the full interview.