Inflation Lingers as Rates May Rise | Raleigh News

Bank of America CEO Brian Moynihan warns that inflation may linger longer than expected, even as consumer spending and wages hold steady, creating a fractured economy where only the wealthy are spending freely while everyday costs like food and gas continue to bite. With prices falling too slowly to deliver relief, economists now predict inflation could persist into 2027 and 2028, forcing a dramatic pivot in interest rate expectations — from anticipated cuts to possible hikes later this year. This tightening cycle could strain household budgets further, as businesses maintain prices, workers demand higher wages, and consumers brace for sustained inflation — painting a complex, bumpier economic road ahead. Listen in comfort:Get a discount on a Soli Pillow: http://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/dfeed32a11f475e5