JPMorgan says U.S. rate cut cycle is over

JPMorgan has concluded that the U.S. Federal Reserve's rate-cutting cycle is already over, Maeil Business Newspaper reported. According to a report from the Bank of Korea's New York office, JPMorgan recently revised its forecast for the number of Fed rate cuts this year from one to zero. The bank stated that the rate cuts appear to have concluded last December and that inflation is expected to remain above the target level for the time being.