What to Expect From a Warsh-Led Fed
J.P. Morgan chief U.S. economist Michael Ferole breaks down what to expect from new Fed Chair Kevin Warsh, whose past statements swing between hawkish and dovish. Ferole notes the FOMC is already shifting toward a more hawkish stance, with limited room for rate cuts given high inflation, solid labor markets, and rising inflation expectations. Warsh is likely to keep forward guidance modest and maintain the current communication style, while navigating a committee dominated by strong voices and a president eager for low rates. The discussion also touches on balance‑sheet tightening, the low probability of changing the PCE inflation target, and upcoming data that will shape the June meeting outlook.
Security and Resiliency in Action: Supercharging the Energy Supply Chain
In the inaugural episode of JPMorgan’s Security and Resiliency in Action series, Dr. Sarah Kapnick and Michael Johnson discuss the escalating demand for energy, the need for diversified and resilient supply chains, and the role of the $1.5 trillion Security and...