Bank of New York Mellon: The urgency for further tightening by the Federal Reserve has diminished.

Mars Finance News, July 6 - Jeff, senior macro strategist at Bank of New York Mellon, pointed out that the weakening of U.S. labor data and the improvement in inflation data have reduced the urgency for the Federal Reserve to further tighten, but this has not resolved the issue of whether the slowdown in growth is within a controllable range or whether policy expectations have been over-adjusted. He said: "The global narrative is becoming less uniform." In the U.S., the question is whether the Fed can remain patient without the risk of inflation reemerging; while in Europe, the focus of discussion is shifting from emergency inflation management to issues such as economic growth, fiscal credibility, and defense financing.
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