JPMorgan’s David Kelly Says Another Fed Hike Would Be Dangerous
- Fed is in unchartered territory but soft landing is possible
- Labor market strength as issue; predicts negative print soon
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The Federal Reserve risks pushing US consumers into a “dangerous” place if it ramps up interest rates yet again while inflation is already slowing, JPMorgan Asset Management’s David Kelly warned.
His warning came as bets on another Fed rate increase edged up Wednesday after the US service sector activity rose to a six-month high.