[JPMorgan: Walsh Expected to Accommodate Trump's Rate Cuts in the Short Term, Return to Hawkish Stance After Midterm Elections] BlockBeats News, February 2, JPMorgan Chief U.S. Economist Michael Feroli predicted in a report that Walsh might accommodate rate cuts in the short term, at least for this year. However, he also warned: 'Over time, especially after the midterm elections and as the government enters a lame-duck period, his stance is likely to shift, potentially returning to a more hawkish nature.' It is worth noting that JPMorgan has not adjusted its rate cut expectations due to Walsh's nomination. Feroli stated that even if Walsh takes office, the bank still expects the Federal Reserve to 'hold steady' for the remainder of the year. Notably, a former Federal Reserve official who previously worked with Walsh also believes that the 'real Walsh' will eventually emerge. This anonymous official told CNN: 'Walsh has coveted this position for too long. He is a smooth operator, extremely skilled at climbing the ladder. But this position is his lifelong pursuit. If he becomes a mere yes-man just to secure the role, it would be a hollow victory. The longer he stays in this position, the more likely he is to demonstrate independence.'