JPMorgan: Expects Powell to Accommodate Trump Rate Cut in the Short Term, Return to Hawkish Stance After Midterm Elections
BlockBeats News, February 2nd, JPMorgan Chase's Chief U.S. Economist Michael Feroli predicted in a report that Powell may be inclined to cut interest rates in the short term, at least for this year. However, he also warned: "As time goes on, especially as we get past the midterm election and the government enters a lame-duck period, his stance is likely to shift, even back to a more hawkish nature."
It is worth noting that JPMorgan Chase did not adjust its interest rate cut expectations due to Powell's nomination. Feroli stated that even if Powell takes office, the bank still expects the Fed to "stay put" for the rest of the year.
Interestingly, a former Fed official who worked with Powell also believes that the "real Powell" will eventually emerge. This anonymous official told CNN: "Powell has coveted this position for too long. He is a smooth operator, extremely adept at climbing the ladder. But this position is his lifelong pursuit. If he merely becomes a yes-man just to rise to the top, it would be a Pyrrhic victory. The longer he stays in this position, the more likely he is to show his independence."
You may also like

Tether's major shareholder invests £12 million to support the "British version of Trump" in the cryptocurrency sector

Huang Renxun's Latest Podcast: Will NVIDIA Reach $1 Trillion? Will the Number of Programmers Increase Instead of Decrease? How to Deal with AI Anxiety?

Besides Resolv Hack, This DeFi Vulnerability Type Has Occurred Four Times

Trump Cries Peace, $1.5 Billion Dash | Rewire News Evening Brief

From x402 to MPP: Cloudflare's crucial vote, will it go to Coinbase or Stripe?

BlackRock CEO issues annual open letter: The wave of tokenization has arrived, and we will lead this trend

When Backpack backstabs the community

When gold is no longer a safe haven, and Bitcoin continues to panic

Trump, the World's Largest Oil Trader

If the US and Iran have not reached an agreement in 5 days, what other cards does Trump have?

Tether Whale Dumps £12 Million, Backing Crypto’s ‘British Trump’

Ethereum Foundation Post: Rethinking the Division of Work Between L1 and L2 to Build the Ultimate Ethereum Ecosystem

Two Major Prediction Market Platforms Unite Rarely, What Is the Story Behind This New Fund?

Dragonfly Partners: Most agents will not engage in autonomous trading, how can crypto payments prevail?

US AI Startup Goes All In on Chinese Mega-Model | Rewire News Morning Brief

Trump Lies Again: A "Five-Day Pause" Psyop, How Wall Street, Bitcoin, and Polymarket Insiders Synced Uposciogen

When a Token Becomes Labor, People Become the Interface

