FAP, April 19 (editor Huang Junzhi) Daniel Pinto, president and chief operating officer of JPMorgan Chase, warned on ThursdayWorldseriesofpokergameDue to high inflation, the Fed may not cut interest rates at all this year.

"it may take them longer to cut interest rates," he said at an event in Washington. "

In addition, Pinto believes that the possibility of raising interest rates is "very, very low" amid widespread suspicion that inflation will ease soon. He said the Fed is in no hurry because cutting interest rates too early would be "painful" and could lead to a recession.

Recent economic data show that US inflation is still more stubborn than many expected earlier this year, making it less likely that the Fed will cut interest rates quickly. This also makes the recent "hawk" within the Federal Reserve seem not surprising.WorldseriesofpokergameYes.

First, Federal Reserve Chairman Colin Powell hinted on Tuesday that interest rates are likely to remain high for longer. He said the US economy was strong in most ways, but inflation had not yet returned to the central bank's target. With that in mind, the Fed is unlikely to cut interest rates any time soon.

Powell mentioned that the Fed's preferred indicator of inflation, the personal consumption Expenditure (PCE) price index for February, had an annual rate of 2. 5%.Worldseriesofpokergame.8%. "this obviously does not give us more confidence. On the contrary, it suggests that it may take longer than expected to gain that confidence."

In addition, Philip Jefferson, vice chairman of the Federal Reserve, also said that if US inflation does not slow as expected, the Fed will be prepared to keep its tight monetary policy unchanged. Cleveland Fed Chairman Mestre stressed that there is no hurry to cut interest rates unless the Fed gains sufficient confidence.

On Thursday, Fed officials released three eagles again: Williams, the "three hands", once again expressed the view that "there is no rush to cut interest rates yet." Atlanta Fed President Bostick reiterated the view of "a cut within the year". He said his view on the possible timing of the first rate cut was "at the end of the year", and said "I am willing to be patient". "Eagle King" Kashkari's point of view is even more radical, he directly stood in line this year, "do not cut interest rates."

No wonder Wall Street and the market have compromised one after another. According to the CME Fed Watch tool, the consensus forecast has now changed from three to two, and the first decline has been postponed from June to September. What's more, Wall Street is no longer focused on delaying interest rate cuts until a few months, but on whether to cut interest rates this year.

Bank of America analyst Stephen Juneau has previously said that the Fed will not cut interest rates until March 2025 at the earliest, which is a "real risk", although they still expect the Fed to cut interest rates in December, and this is the only cut this year.

Pinto's latest comments echo the views of Jamie Dimon, CEO of JPMorgan Chase. In a letter to shareholders earlier this month, Mr Dimon wrote that persistent inflationary pressures could lead to higher-than-expected interest rates and that his company was ready to accept interest rates of 2 per cent to 8 per cent or "even higher".