JP Morgan's Pinto says Fed to hike towards 5.5%, see a US recession

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JP Morgan's Pinto says Fed to hike towards 5.5%, see a US recession

JPMorgan's President and Chief Operating Officer Daniel Pinto spoke on Friday ICYMI.

Said lending is slowing due to both supply and demand issues:

• 
  "There is no doubt that regional banks and smaller banks are building up liquidity, building capital, so they are lending a bit less"
• "I don't think that the big banks have really changed their lending standards... there is not a huge amount of loan demand in the first place."
  

On the economy and Federal Reserve:

• 
  consumption remains positive
• there are some indications the economy is slowing
• 
  
  "Likely the Fed will get to run towards 5.5% and then they will pause" to assess inflation ... If inflation accelerates further, the Fed could raise rates 50 basis points with a series of smaller rate hikes
• will be a "recession at some point", but doesn't see a crisis, "It's just a slowdown in the economy"

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Next Fed dates i June 13 &14:

                This article was written by Eamonn Sheridan at www.forexlive.com.

Source: JP Morgan's Pinto says Fed to hike towards 5.5%, see a US recession

forexlive.com