David Kelly, Chief Global Strategist at JPMorgan Asset Management, recommended the Federal Reserve maintain its interest rates unchanged during a Bloomberg Television interview on August 12. He describes the current inflation environment as « Teflon inflation, » suggesting that price pressures are gradually subsiding. July’s Consumer Price Index data supports this analysis, with subdued core inflation pushing US Treasuries higher. Kelly projects the Fed will hold steady through at least the end of 2026.
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