According to Jinshi, Jason Pride, Head of Investment Strategy and Research at Glenmede, stated that the Federal Reserve's policy approach has not changed, with inflation remaining the binding constraint for rate cuts, not the employment situation. Glenmede is a U.S. investment management firm, and its views are often seen as professional macroeconomic insights.
Pride elaborated that while the labor market has not accelerated downward, its resilience is stronger than unrevised numbers indicate, which lessens the urgency for the Fed to act on the employment front. Therefore, investors should anticipate the Fed will keep rates unchanged at its next meeting.
He also noted that attention should be given to whether post-ceasefire energy relief measures start bringing down headline inflation, which will be a key reference for the Fed in assessing rate cut timing. Investors should closely track energy market trends and inflation data.