Bob Michele, global head of fixed income at JPMorgan Asset Management, says the U.S. Federal Reserve is likely to keep interest rates on hold at its September meeting, emphasising that policymakers need to see further economic data before making any moves.
Speaking in an interview, Michele noted that while inflation has eased from its peak, it remains above the Fed’s 2% target, and the central bank will likely adopt a wait-and-see approach in the coming months.
Michele’s comments reinforce the market view that the Fed may not be in a hurry to ease policy, with investors now pushing back expectations for the first rate cut to later in 2025.
