TechFlow News, May 9: According to the latest forecast by Bank of America, the U.S. Federal Reserve will delay interest rate cuts until the second half of 2027, primarily due to persistently high inflation and robust job growth. Bank of America Global Research had previously projected two rate cuts this year—in September and October—partly based on expectations that Donald Trump would nominate Kevin Warsh to succeed Jerome Powell as Fed Chair, with Warsh steering policymakers toward looser monetary policy. However, this view has shifted amid evolving economic conditions. BofA economists now state, “We no longer expect any rate cuts by the Fed this year.” They also note that multiple shocks affecting the economy—including the Iran conflict, tariffs, and the rise of artificial intelligence—have made forecasting interest rate moves significantly more challenging. (Jinshi)
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