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J.P. Morgan moves up Fed tightening forecast after jobs report
July 3, 2014 / 2:17 PM / 3 years ago

J.P. Morgan moves up Fed tightening forecast after jobs report

(Reuters) - J.P. Morgan moved forward its forecast for a Federal Reserve monetary policy tightening on Thursday, citing the decline in the unemployment rate, positive jobs data and firming core inflation.

A sign outside the headquarters of JP Morgan Chase & Co in New York, September 19, 2013. REUTERS/Mike Segar

J.P. Morgan said after the bullish U.S. jobs report on Thursday, the bank sees the Fed’s interest rate lift off occurring in the third quarter of 2015, up from the Wall Street bank’s original projection of the fourth quarter of that year.

The firm’s well known chief U.S. economist, Michael Feroli, added in the report that after the June jobs report, a second quarter tightening next year is “plausible.”

Reporting by Michael Flaherty

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