Bank of America predicts three rate hikes in 2023
Bank of America expects the Federal Reserve to raise interest rates three times this year by a total of 75 basis points, bringing the rate to a range of 4.25–4.50%. The bank anticipates that it will remain cautious throughout the coming year, as inflation continues to rise, while the risks of a slowdown in the labor market have diminished. The bank also noted that Federal Reserve decisions will depend on inflation and labor market data, with a premise that there will be no interest rate cuts in the near future.
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