Bank of America forecast for the Federal Open Market Committee (FOMC):
- sees two more 25bps FOMC rate hikes
- in July and September
- pushing the terminal rate up to 5.5%-5.75%
The Federal Reserve held the Fed Funds rate steady at its meeting on Wednesday, but the dot plot was hawkish:
More from BoA:
- pushes out its anticipated slowdown in the US economy by two quarters
- expects 1.1% q/q
growth in Q4 real GDP vs the contraction of 0.2% it expected
previously
Federal Reserve System Chair Powell