JPMorgan strategist: U.S. economy is strong, Fed doesn't need to cut rates

Odaily Odaily News: Oksana Aronov, head of alternative fixed income market strategy at asset management company, said in an interview with CNBC on Tuesday that interest rates are not as restrictive as the Federal Reserve expected... The market has become accustomed to a low interest rate environment. "This (the market's call for interest rate cuts) is the impact that 15 years of extraordinary and unconventional monetary policy will have on the market." Aronov said that the US unemployment rate has hit a record low, and the market is no longer accustomed to a normal interest rate environment. The current unemployment rate of 4.3% is "well within" the Fed's 5% target, and any recent weakness is just a return to normal after years of very tight labor markets... We haven't really seen widespread weakness. Retail sales and strong profits for retailers such as Walmart (WMT.N) all show strong consumption levels. Aronov said that the economy is still continuing to grow steadily and there is no need to "exaggerate." (Jinshi)