Bank of America Predicts Two Fed Interest Rate Cuts in 2023
CryptoNewsTerminal Staff06 Jun, 2024
Bank of America Predicts Two Fed Interest Rate Cuts in 2023
Bank of America (BofA) has forecasted that the US Federal Reserve will begin decreasing interest rates in September, with a total of two cuts expected this year. The bank's report states that economic data is anticipated to persuade the Fed to acknowledge a slowing economy. However, rate cuts are not expected until evidence of easing inflation is apparent. Therefore, BofA does not foresee a reduction at the June 24 Federal Open Market Committee (FOMC) meeting.
