BNY Strategist Reiterates No Fed Rate Hikes This Year

John Velis, macro strategist at BNY Markets, has reaffirmed his forecast that the Federal Reserve will refrain from raising interest rates this year. In a note, he pointed to a dovish repricing in markets driven by incoming economic data and a renewed focus on inflation dynamics.

Although the risks surrounding the policy outlook remain skewed to the upside, Velis maintains that the Fed is likely to stay on hold. The stance reflects a view that the central bank will prioritize the disinflation trend and avoid further tightening.