Economists at Bank of American now see the Fed getting closer to 5% than 4%.
"We now expect hikes of 75bp in November, 50bp in December, followed by two 25bp rate hikes by March of next year... Our new terminal target range is 4.75-5.00%, up from 4.00-4.25% previously"
This forecast is little more than reading the Fed's dot plot back to them, though it does add an extra 25 bps at the March meeting.
