Bob Michele, head of global fixed income at J.P. Morgan Chase, said on Bloomberg TV that Kevin Hassett's nomination as Chairman of the Federal Reserve was not “100%” certain. He said that the market generally believes that the Federal Reserve will cut interest rates by 25 basis points and that inflation is expected to drop slightly. Michele sees the large number of objections at the Federal Reserve meeting as a significant shift.

Bob Michele, head of global fixed income at J.P. Morgan Chase, said on Bloomberg TV that Kevin Hassett's nomination as Chairman of the Federal Reserve was not “100%” certain. He said that the market generally believes that the Federal Reserve will cut interest rates by 25 basis points and that inflation is expected to drop slightly. Michele sees the large number of objections at the Federal Reserve meeting as a significant shift.