J.P. Morgan Asset Management: Fed policy tone quietly shifts, but still expects no rate adjustment this year

CoinFeed, June 18 - According to Jinshi, Tai Hui, Chief Market Strategist for Asia at J.P. Morgan Asset Management, stated that at the first FOMC meeting chaired by new Fed Chair Warsh, the committee unanimously decided to maintain the federal funds rate target range at 3.50%-3.75%. Signals from this meeting indicate that the Fed is not showing a rush to ease monetary policy. Tai Hui further noted that the policy statement underwent a significant change in format, with its length reduced by about half compared to the previous version. Compared to the classic four-paragraph detailed statement released in April this year, the latest statement has been substantially streamlined and has completely abandoned the previously implied dovish bias. Meanwhile, descriptions of economic growth, the labor market, and the inflation outlook have also become noticeably more concise.