Wall Street pushes out rate-cut expectations, sees risk they don't start until March 2025 [CNBC]
Bank of America Corporation (BAC)
Last bank of america corporation earnings: 4/15 06:45 am
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Source: CNBC
Now, Wall Street is wondering if the central bank will cut at all this year. That's because Powell on Tuesday said there's been “a lack of further progress” on lowering inflation back to the Fed's 2% target, meaning “it's likely to take longer than expected” to get enough confidence to start easing back on policy. “They've got the economy right where they want it. They now are just focused on inflation numbers. The question is, what's the bar here?” said Mark Zandi, chief economist at Moody's Analytics. “My sense is they need two, probably three consecutive months of inflation numbers that are consistent with that 2% target. If that's the bar, the earliest they can get there is September. I just don't see rate cuts before that.” With most readings putting inflation around 3% and not moving appreciably for several months, the Fed finds itself in a tough slog on the last mile toward its goal. Market pricing for rate cuts has been highly volatile in recent weeks as Wall Street h
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