ICYMI, on Friday Bank of America economists updated their projected rate hike path from the US Federal Reserve.

  • forecast +25bp at the next 3 meetings, in March May and june
  • then a pause at the July meeting

Citing an economy that's not slowing as quickly as many have expected:

  • Resurgent inflation
  • solid employment gains
  • means…the Fed might have to hike further if inflation, job growth, and consumer demand refuse to soften

BoA see the peak for fed funds at 5.25 - 5.5%.

  • and see the first rate cut in March of 2024
fomc fed dates 2023