- Bank of America now expects three quarter-point Fed rate hikes this year, lifting the federal funds rate to about 4.25%–4.5% after a hawkish FOMC meeting and new Fed chair Kevin Warsh’s comments.
- The shift reflects stickier inflation — driven by tariffs, an oil spike tied to the Iran war, and waning housing-driven disinflation — and has already pushed Treasury yields higher.
- Still, opinions differ: some analysts say hikes are unlikely if oil and job growth cool, and big Wall Street capital issuance plus mixed Fed signals leave the outlook uncertain.
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