According to BlockBeats, on November 13, the JPMorgan Chase market team believed that inflation data was more likely to heat up than cool down. Despite this, they believe that hotter data this week is unlikely to derail the tone of risk appetite, and investors are unlikely to cling to one data point because there is another CPI data release before the December Fed meeting. "However, the team reminded investors that Powell has shifted the Fed's focus from the labor market to the dual tasks of balancing employment and inflation. "If data such as CPI or even retail sales show a stronger economic growth trajectory while also stimulating inflation, then it is necessary for us to pay attention to what will happen in the future."
In JPMorgan Chase's view, investors are unlikely to shift to a cautious portfolio stance until they see the overall CPI annual rate reach 3.5%, which is a credible threat to the Fed. They believe that the Fed will only take tightening action if the inflation rate returns to or exceeds 4%. (Jinshi)