Bank of America economists revised their forecast for a Federal Open Market Committee (FOMC) rate cut, citing, you guessed it, higher-than-expected CPI data for the month of March.
The BoA called for a June FOMC rate cut.
By shifting their call to June, they also shifted their expectations to a single rate cut in 2024.
BoA warns that even the December reduction is not a certainty:
- “Further positive inflation surprises could push for cuts through 2025”
—
I published this in the Journal yesterday:
- Wall Street Journal Insider: Fed rate cuts are now a question of if, not just when
This article was written by Eamonn Sheridan at www.forexlive.com.
cnbctv18-forexlive
