Don't snap up stocks just yet – but stay alert as the Fed could soon spark a rally by wrapping up its rate-hiking campaign, a JPMorgan strategist says
Investors shouldn't be buying US stocks yet – but they should be on high alert for when the Federal Reserve wraps up its interest rate-hiking campaign, according to a strategist at JPMorgan Asset Management.
"What's the benefit of them continuing to move so aggressively, if the cost of those hikes puts undue uncertainty on the economy in a world where inflation is moving in the right direction?" Camporeale toldThe Fed's aggressive rate increases — which saw the cost of borrowing rise from near-zero in March to the current level of around 4.5%, an addition of 450 basis points in total — have weighed on stocks.
"We're still underweight right now, because the Fed last year did the quickest monetary tightening that they have ever done," he said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
STOCK MARKET NEWS: Bed Bath & Beyond latest, JPMorgan CEO Jamie Dimon on economy, Powell speechJPMorgan CEO Jamie Dimon talks about health of the economy, stocks, oil slip and Bed Bath & Beyond announces more store closings. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.
Read more »
JPMorgan’s Jamie Dimon more optimistic on US consumerJPMorgan Chase CEO Jamie Dimon weighed in on the American consumer and the state of the current economy in an interview with FOX Business' Maria Bartiromo.
Read more »
JPMorgan Chase CEO Jamie Dimon sticks to hiring plans and dials back prediction of economic ‘hurricane’CEO lambastes FTX as a 'decentralized Ponzi scheme' and says JPMorgan continues to add staff as it opens more branches around the globe.
Read more »
JPMorgan CEO Jamie Dimon on China: ‘We shouldn’t be afraid’JPMorgan CEO Jamie Dimon says the U.S. 'shouldn't be afraid' of China, and that American businesses pulling out of the country would not be good for consumers.
Read more »
This new JPMorgan job listing promises a '$30,000 annual restaurant budget'—here's what to knowIn addition to receiving a salary in the range of $85,000 to $130,000, whoever lands the editorial role will also get a major perk.
Read more »