JPMorgan Turns Tactically Cautious on U.S. Stocks After Warsh Remarks
Fed Chairman Kevin Warsh’s hawkish inflation rhetoric has led markets to expect a higher chance of September rate increases, raising uncertainty about the path of monetary policy. JPMorgan’s U.S. market intelligence team downgraded its near-term view on American stocks to tactically cautious, expecting sideways movement as high-valuation AI momentum cools and upcoming jobs data set the tone.