JP Morgan expects CPI to hit Fed 2% target by late 2024 - but don't expect more FOMC hikes

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JP Morgan expects CPI to hit Fed 2% target by late 2024 - but don't expect more FOMC hikes

Dow Jones / Market Watch conveyed comments from the chief global strategist at JP Morgan Asset Management.

says inflation will drop under the Federal Reserve's 2% target by late 2024

On the CPI data released Wednesday, and whats to come further ahead:

• "I don't think that today's upside surprise is sufficient to trigger a rate hike next week and I continue to expect the Fed to stay on hold,"
• "But with inflation sticky and growth resilient, the committee is likely to maintain a clear tightening bias--the dot plot may even continue to reflect expectations of an additional hike later this year."
• isn't expecting the Fed to raise rates again in this cycle
• oil prices well off their lows ... so further progress on cooling headline inflation is unlikely in 2023 ... will "keep the Fed on high alert."

Jerome Powell dot plot image

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

Source: JP Morgan expects CPI to hit Fed 2% target by late 2024 - but don't expect more FOMC hikes

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