JPMorgan Sees Fed on Hold as ‘Teflon Inflation’ Eases Concerns

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world JPMorgan Asset Management’s chief global strategist said the Federal Reserve should keep interest rates unchanged and predicted that inflation will gradually come down as evidence mounts that a sustained wage-price spiral won’t take root. “Absolutely they should stay on hold, and I actually think they will,” David Kelly said Wednesday in a Bloomberg Television interview after the release of the consumer price index for July. Underlying US inflation was subdued in July, the report showed , and US Treasuries held gains on the news .

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