A Bank of America research note issued on Friday says the Federal Open Market Committee (FOMC) could take the Fed Funds rate up to 6% in the next year.
- “Fed ain’t done with hikes” says BoA citing persistently high inflation
- rate hikes could usher in 4% unemployment, or higher
- Says there is a 25% chance of a US recession next year
- even without a recession, there is a 70% chance of a slowdown
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The Federal Open Market Committee (FOMC) meet this week. The meeting is very much ‘live’.
Outlook, above, and, currently, below: