• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • bitcoinBitcoin(BTC)$22,845.00-2.29%
    BITCOIN
    24H : -2.29%
    Volume : $29,911,181,939.00
    Marketcap : $440,406,437,787.00
  • ethereumEthereum(ETH)$1,630.57-2.17%
    ETHEREUM
    24H : -2.17%
    Volume : $8,601,308,488.00
    Marketcap : $196,446,069,685.00
  • usdex-stablecoinUSDEX(USDEX)$1.08-0.31%
    USDEX
    24H : -0.31%
    Volume : $128,575.00
    Marketcap : $110,959,993,107.00
  • tetherTether(USDT)$1.000-0.06%
    TETHER
    24H : -0.06%
    Volume : $39,757,810,413.00
    Marketcap : $68,066,521,294.00
  • binancecoinBNB(BNB)$326.12-2.72%
    BNB
    24H : -2.72%
    Volume : $820,415,778.00
    Marketcap : $44,016,340,114.00
  • usd-coinUSD Coin(USDC)$1.000-0.01%
    USD COIN
    24H : -0.01%
    Volume : $2,886,836,093.00
    Marketcap : $41,975,376,238.00
  • rippleXRP(XRP)$0.398-3.18%
    XRP
    24H : -3.18%
    Volume : $1,092,465,403.00
    Marketcap : $20,198,403,868.00
  • binance-usdBinance USD(BUSD)$1.000-0.04%
    BINANCE USD
    24H : -0.04%
    Volume : $9,746,479,281.00
    Marketcap : $16,253,064,661.00
  • cardanoCardano(ADA)$0.392-2.17%
    CARDANO
    24H : -2.17%
    Volume : $389,340,037.00
    Marketcap : $13,732,207,766.00
  • dogecoinDogecoin(DOGE)$0.092-3.59%
    DOGECOIN
    24H : -3.59%
    Volume : $853,940,298.00
    Marketcap : $12,751,517,038.00
TodayinCrypto.com

TodayinCrypto.com

  • Home
  • Latest News
  • YOUTUBE RECAPS
  • CONTACT US

JPMorgan strategist advises investors to sell crypto and buy value stocks


August 31, 2022 · By MATheGooner
Bitcoin (BTC)

JP Morgan Kelly claims that the US Federal Reserve overestimates the health of the US economy as they lift the ante in their fight against inflation and dismiss any talk of loosening monetary policy.

JPMorgan Asset Management’s top global strategist has given investors advice to sell crypto, buy value companies, pay attention to valuations, and stay away from cryptocurrencies.

The Federal Reserve is overestimating the strength of the U.S. economy as it feels guilty about the fact that inflation went up under their watch,” he said.

Following the speech by Federal Reserve Chairman Jerome Powell Friday at Jackson Hole, Wyoming, he was quoted as saying:

“The economy has got one foot into a recession and the other on the banana peel now. We are taking forceful and rapid steps to moderate demand so that it comes into better alignment with supply, and to keep inflation expectations anchored. We will keep at it until we are confident the job is done,” Powell said last week.

Kelly emphasized that despite the impending increase in volatility, investors should place more emphasis on defensive plays and valuations than on short-term trends. Examples of such plays include investing in value stocks, long-term bonds, and alternatives that generate income.

“Make sure you overweight U.S. and international value, as well as stocks with relatively low price-to-earnings ratio”.

Kelly predicted that by the end of next year, the economy will “feel more normal,” citing a high risk of recession. The real question, he cautioned, is “how much damage the Fed wants to inflict on this economy,” he said. More advice the strategist:

“The Federal Reserve is overestimating the strength of the U.S. economy as it feels guilty about the fact that inflation went up under their watch.”

Kelly added on Monday that until the Federal Reserve gives up trying to control inflation, the American economy will be “wobbling on the edge of recession.” By the end of the year, he anticipates the Fed to raise the federal funds rate from its current range of 2.25%-2.5% to one between 3.75% and 4%. He explained, “The Fed may then cease raising rates and trust that the economy will just avoid recession.” 

Risky assets will likely continue to struggle as Powell combats inflation with a tight monetary policy, according to several experts. In a recent email, senior market analyst at Oanda Edward Moya warned that this aggressive strategy might also lead to a slowdown in the economy.

Primary Sidebar

LATEST NEWS

Australia scheduled to release plans to regulate cryptocurrencies in the country

February 4, 2023

Binance severs ties with Indian cryptocurrency exchange WazirX

February 3, 2023

Former Bank of China advisor urges China to rethink its ban on cryptocurrencies

February 2, 2023

Federal judge forbids SBF from using Signal to contact FTX and Alameda staff

February 1, 2023

Tesla posts a $140 million bitcoin net loss in 2022

January 31, 2023

  • Facebook
  • Instagram
  • Twitter

Newsletter

Footer

ABOUT US

TodayinCrypto is a financial media brand that strives to deliver breaking, accurate and daily news about digital assets to millions of investors in the crypto industry.

We are passionate about Bitcoin and are keen to share news about the people, companies and technological developments that are changing our world.

TODAY IN CRYPTO

  • Research shows London is the commercial city that is the most geared for cryptocurrencies February 5, 2023
  • Australia scheduled to release plans to regulate cryptocurrencies in the country February 4, 2023
  • Binance severs ties with Indian cryptocurrency exchange WazirX February 3, 2023

Search

Tags

Aave (AAVE) Aleph.im (ALEPH) Arweave (AR) Avalanche (AVAX) Benchmark Protocol (MARK) Binance Coin (BNB) Bitcoin (BTC) Bondly (BONDLY) Bridge Mutual (BMI) Cardano (ADA) Celsius Network (CEL) Chainlink (LINK) COTI (COTI) Decentraland (MANA) Dogecoin (DOGE) Elrond (EGLD) Enjin Coin (ENJ) Ethereum (ETH) Ethernity Chain (ERN) Fantom (FTM) FTX Token (FTT) Kusama (KSM) Litecoin (LTC) NFT OriginTrail (TRAC) PAID Network (PAID) PancakeSwap (CAKE) Polkadot (DOT) Polkastarter (POLS) Polygon (MATIC) SnowSwap Solana (SOL) SuperFarm (SUPER) Sushi (SUSHI) Terra (LUNA) Terra Classic (LUNC) The Graph (GRT) Theta Network (THETA) Tixl (TXL) Trustswap (SWAP) Uniswap (UNI) VeChain (VET) XRP (XRP) yearn.finance (YFI) Yield Optimization Platform & Protocol (YOP)

Copyright © 2023 · Today in Crypto · Terms & Privacy · Log in