Comments from JPMorgan Asset Management
- Says the Federal Reserve's "more dovish pivot should be recognized that it was taken because they had a less favorable view of both markets and economic growth" but JPM assess the risk of a US recession in the next 12 to 18 months as "pretty low"
- Fed actions are likely to extend the economic cycle a bit further
On the USD:
- to stay relatively range-bound this year
- longer-term valuation perspective shows the US dollar a bit expensive
