BofA Forecasts Three Fed Rate Hikes

Bank of America economists are now forecasting three Federal Reserve rate hikes this year — a sharp pivot from their earlier stance — driven by Chair Kevin Warsh’s hawkish push to combat stubborn inflation, despite the economy’s resilience. The Fed’s dual mandate of employment and price stability puts it in a tough spot, as rate hikes cool inflation but risk slowing jobs. With inflation data expected to show a stronger-than-expected uptick, the Fed faces mounting pressure to act — even as Wall Street remains divided, with more investors now betting on at least one hike later this year. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/3c2ec1dbf88f1e2a