JPMorgan Chase & Co.’s trading desk is shifting to a “tactically cautious” view on US stocks for the next few weeks after hawkish remarks by Federal Reserve Chairman Kevin Warsh led markets to boost bets on interest-rate hikes this year. The bank’s traders, led by Andrew Tyler, head of US market intelligence, dropped their bullish stance for now in the leadup to the Fed’s Sept. 16 policy decision because of headwinds from questions around the rate outlook. However, they expect a strong market backdrop will persist, thanks to support such as economic data and earnings.

The shift in sentiment reflects growing uncertainty about monetary policy as the Federal Reserve approaches its September 16 decision. Traders are adjusting positions amid increased volatility and changing economic expectations in the US market.