Bank of America Revises Forecast: Expects Three Federal Reserve Rate Hikes This Year
Bank of America has revised its stance and now expects three interest rate hikes from the Federal Reserve in 2024 due to persistent inflation. The bank cited new Chairman Kevin Warsh's aggressive tone, recent supply shocks like tariffs, and a slowdown in housing-driven disinflation as key factors behind this shift.
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Topics: Fed policy inflation interest rates Kevin Warsh