JPMorgan Chase & Co. strategist: There is no reason for the Fed to cut interest rates now

Investors have been waiting with bated breath for the Fed to cut interest rates, but JPMorgan strategist Oksana Aronov believes that in the current environment, the Fed has no compelling reason to cut rates. Aronov said in an interview with CNBC that the economy is doing well, the unemployment rate is below what the Fed considers neutral, inflation is above target even in their long-term projections, and the economy does not appear to be constrained by these rates. In the absence of any problems, it is difficult to understand why they are taking action now. In fact, growth projections for 2024 are only increasing. Officials expect real GDP growth to reach 2.1 percent this year, compared with a 1.4 percent forecast in December, according to a summary of the Fed’s latest economic projections. Other economists, such as Apollo’s Torsten Sl?k, are also predicting zero rate cuts this year.