A pivot by the Federal Reserve could mark a peak for the U.S. dollar, according to strategists at JPMorgan
Slowing economic growth and a softer job market could allow the Federal Reserve to pivot, marking a peak for the U.S. dollar as inflation stabilizes, according to strategists at JPMorgan.
As inflation has proved to be persistent at a four-decade high, the Fed’s aggressive tightening of monetary policy is seen threatening to tip the economy into recession. Policy makers prepared to meet this week with market participants expecting another 0.75 percentage point rate hike that would push the fed-funds rate up to 2.25%-2.5%.
Oil futures have retreated sharply in July, with pressure tied in part to fears that a potential recession would undercut demand.
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