Michael Feroli

Michael Feroli serves as chief US economist at JPMorgan Chase, where he leads the firm's US macroeconomic research and Federal Reserve analysis. Previously at the Federal Reserve Board as an economist, Feroli brings an insider understanding of Fed deliberations to his sell-side commentary. His detailed previews and reviews of Federal Open Market Committee meetings are widely read by institutional fixed income managers, equity portfolio managers, and monetary policy watchers. JPMorgan's economic research is one of the most widely distributed on Wall Street. His analysis of the Federal Reserve's reaction function — modeling how the committee weights labor market developments, inflation readings, and financial stability considerations in setting policy rates — has given clients a predictive framework for anticipating Fed decisions before official communications. His work draws on detailed reading of Fed staff projections, regional Fed president speeches, and the minutes of FOMC meetings to provide a granular view of internal Fed deliberations.