JPMorgan Asset Management’s top bond strategist wants everyone to stop looking for problems that aren’t there. Bob Michele, the firm’s global head of fixed income and chief investment officer, told Bloomberg that the US economy is “in pretty good shape,” a statement that sounds unremarkable until you consider how many people have spent the last few years predicting its collapse.
Michele made the comments during an appearance on “Bloomberg Surveillance: The Fed Decides,” a show timed around Federal Reserve policy deliberations. His core message was blunt: market participants need to accept the economy’s resilience rather than constantly bracing for a downturn that hasn’t materialized.
No recession, no panic, no problem
His recent commentary has been consistently optimistic. Across multiple Bloomberg appearances between January and March 2026, Michele has pointed to macroeconomic resilience, stable growth, and moderate inflation as reasons to stay constructive. He has identified no recession signals in his latest assessments, a notable departure from earlier periods when growth slowdown concerns dominated the conversation.
Michele has also highlighted what he describes as an “ideal market” for bonds and credit conditions. The combination of economic stability and manageable inflation creates a backdrop where fixed income instruments can perform well without requiring dramatic policy intervention from the Fed.
