JPMorgan strategist Teresa Ho and others wrote in the report that given the normalization of liquidity conditions after the end of October, it is currently expected that the Fed will stop quantitative tightening not by the end of 2024, but by the end of the first quarter of 2025.
摩根大通：美联储料将在2025年第一季度结束缩表 而非2024年底之前
jpmorgan: The Fed is expected to end balance sheet reduction in the first quarter of 2025, not by the end of 2024.
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