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Bank of America Maintains October Rate Hike Outlook
Bank of America's analysts still expect the Federal Reserve to raise interest rates in October, based on inflation data that has worsened since the September meeting. The decision hinges on the outlook of Fed Chair Jerome Powell, with a possibility of a second or third rate hike this year, especially as inflation expectations have risen to 3.4% by year's end. Although markets currently price only a 20% chance of a rate increase, the bank sees strong reasons to justify such a move.
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