In an environment already characterized by low inflation and low interest rates, monetary stimulus will likely continue to be relatively ineffective.
One of the mysteries of American economics is the emphasis on a ���strong dollar.��� Today���s overvalued-dollar has kept inflation too low and, for years, hurt U.S. manufacturing.
J.P. Morgan 2019 LTCMA Macroeconomic Assumptions
Mostly stable, mostly moderate
The tide has turned for the U.S. dollar
J.P. Morgan 2019 LTCMA Currency Exchange Rate Assumptions
G4 government bonds: A slow road to low yields
J.P. Morgan 2019 LTCMA Fixed Income Assumptions
The path of the U.S. dollar: Looking forward by looking back
JP Morgan's 2019 Long-Term Capital Market Assumptions