JPMorgan: The Federal Reserve is unlikely to adjust interest rates this year

According to Jinshi, JPMorgan Asset Management strategist Xu Changtai stated in a report that the Federal Reserve is unlikely to adjust interest rates this year, as the committee seems to be patient with the current policy rate. Xu Changtai pointed out that the Federal Reserve kept interest rates unchanged and completely removed any dovish tendencies from the policy statement. As the Federal Reserve's initial stance was interpreted by the market as hawkish, U.S. Treasury yields rose, while U.S. stocks fell overnight.