Federal Reserve investigation impacts, JPMorgan Chase remains cautious on US stocks

ChainCatcher reports that, according to Jinshi, JPMorgan Chase’s securities trading division stated that the recent impact of the Trump administration on the independence of the Federal Reserve at least poses a threat to the US stock market in the short term. News of the Federal Reserve facing criminal investigations led to a decline in stock index futures and the US dollar, with funds flowing into safe-haven assets such as gold. Andrew Taly, head of global market intelligence at JPMorgan Chase, said that although macro and corporate fundamentals support a bullish stance, the risks to the Federal Reserve’s independence create a downward pressure on the market, so caution should be maintained in the very short term.