JPMorgan Asset Management: The Federal Reserve will remain on hold this year, with its hawkish stance reinforced
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- JP Morgan Asset Management Asia-Pacific Chief Market Strategist Xu Changtai stated that the Federal Reserve is unlikely to adjust interest rates this year, and the committee remains patient with the current policy rate level.
- The Federal Reserve kept interest rates unchanged at this meeting and completely removed the dovish bias from its policy statement. Overnight, US Treasury yields rose and US stocks fell, with the market's initial interpretation of the Federal Reserve's move leaning towards a hawkish stance.
- Xu Changtai added that under the leadership of the new Chair Walsh, the Federal Reserve's dual mandate of maintaining price stability and full employment, as well as using the federal funds rate as the main policy tool, appears to be further solidified.
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