Bank of New York Mellon: Urgency of Further Fed Tightening Has Eased

BlockBeats News, July 6th. Jeff, Senior Macro Strategist at New York Mellon Bank, pointed out that the softening of U.S. labor data and improvement in inflation data have reduced the urgency for further Federal Reserve tightening. However, this has not resolved the issues of whether the growth slowdown is manageable or if policy expectations have been overly adjusted.

He stated, "The global narrative is becoming less unified." In the U.S., the question is whether the Federal Reserve can remain patient in the absence of a resurgence of inflation risks; while in Europe, the focus of discussion is shifting from emergency inflation management to economic growth, fiscal credibility, and defense financing.