JP Morgan says full impact of Federal Reserve rate hikes still to hit

<p>The Federal Open Market Committee (FOMC) statement is due Wednesday (at 1800 GMT, 1400 US Eastern time).</p><p>Ahead of that, remarks from JPMorgan chief global equity strategist on the rate hikes so far:</p><ul><li>
“I think there’s just a lag effect” </li><li>“And this time around in this cycle, the lag simply may be longer than what we’re accustomed to sort of seeing in the prior cycles because of the unprecedented injection that we’ve got during Covid, and because of a relatively healthy starting point for things like balance sheets.”</li><li>favors utilities, health care, and dividend stocks</li><li>targets 4200 for the S&amp;P 500 at year-end</li></ul><p>Info via CNBC interview. </p><p>Powell speaks at 1830 GMT / 1430 US Eastern time </p>

This article was written by Eamonn Sheridan at www.forexlive.com.