U.S. Interest Rate Forecast

研报英文原文证据摘录

U.S. Interest Rate Forecast

isdiction and, if not licensed, do not hold

themselves out as being able to do so.

Exchange-Traded Funds (ETFs): J.P. Morgan Securities LLC (“JPMS”) acts as authorized participant for substantially all U.S.-listed ETFs. To

the extent that any ETFs are mentioned in this report, JPMS may earn commissions and transaction-based compensation in connection with the

distribution of those ETF shares and may earn fees for performing other trade-related services, such as securities lending to short sellers of the

ETF shares. JPMS may also perform services for the ETFs themselves, including acting as a broker or dealer to the ETFs. In addition, affiliates

of JPMS may perform services for the ETFs, including trust, custodial, administration, lending, index calculation and/or maintenance and other

services.

Options and Futures related research: If the information contained herein regards options- or futures-related research, such information is

available only to persons who have received the proper options or futures risk disclosure documents. Please contact your J.P. Morgan

Representative or visit https://www.theocc.com/components/docs/riskstoc.pdf for a copy of the Option Clearing Corporation's Characteristics

and Risks of Standardized Options or

https://www.finra.org/sites/default/files/2020-08/Security_Futures_Risk_Disclosure_Statement_2020.pdf for a copy of the Security Futures

Risk Disclosure Statement.

Changes to Interbank Offered Rates (IBORs) and other benchmark rates: Certain interest rate benchmarks are, or may in the future

become, subject to ongoing international, national and other regulatory guidance, reform and proposals for reform. For more information, please

consult: https://www.jpmorgan.com/global/disclosures/interbank_offered_rates