J.P. Morgan Asset Management - The Weekly Brief

25.01.2022 09:57 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management - The Weekly Brief

Die jüngsten US-Daten zum Arbeitsmarkt und der Inflation werden die Federal Reserve darin bestärken, ihre geldpolitischen Anreize in diesem Jahr schneller abzubauen. Das Inflationsziel der Fed wurde mit einer Gesamtinflation von derzeit 7% zum Vorjahr eindeutig erreicht. Der Zentralbank ist auch zunehmend bewusst, dass die Wirtschaft nach der Pandemie anders aussieht als vorher. Der Prozentsatz der US-Bevölkerung, der nicht erwerbstätig ist und weiterhin nicht arbeiten will, wächst. Dadurch ist das Arbeitskräfteangebot in den USA geschrumpft, sodass der Arbeitsmarkt sehr angespannt ist, da es mehr Stellenangebote als verfügbares Personal gibt. Da dieses Umfeld zu höheren Löhnen und somit auch zu einer potenziell nachhaltigeren Inflation führt, gibt es aus unserer Sicht triftige Gründe für die Fed, um auf ihrer Sitzung im März eine erste Zinserhöhung vorzunehmen.

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