Fed’s Pivotal Interest Rate Decision: What’s Bank of America’s Forecast?

The Federal Reserve has turned markets into a firestorm over the past year, consistently urging caution in optimism. Especially risk market investors have been caught in the excitement of “is it over yet?” to avoid missing the turnaround from the bottom. We are heading towards a crucial Fed interest rate decision. So what’s Bank of America’s forecast? Interest Rate Forecast Bank of America strategist Michael Hartnett suggests that the Fed may need a 4% unemployment rate and a 6% rate hike to curb inflation. Hartnett’s forecast comes ahead of the publication of the Fed’s Summary of Economic Projections for the end of the year. Despite the tepid response to inflation’s interest rate hikes, Federal Reserve Vice Chairman Philip Jefferson implied at the bank’s June meeting that rates will be held in the 5-5.25% range. Futures markets agree, with CME’s FedWatch setting the probability of interest rates remaining stable at 78%. […] The post Fed’s Pivotal Interest Rate Decision: What’s Bank of America’s Forecast? appeared first on COINTURK NEWS.