TechFlow news, November 20 — According to Jinshi News, Stephen Juneau, U.S. economist at Bank of America, said, "We still expect the Fed to cut rates in December, and we believe the data will meet expectations, but it's understandable why the market feels this is a bit like flipping a coin. The U.S. economy remains very strong, and inflation is still above target levels. We are going to see deregulation, looser fiscal policy, more protectionist trade policies, and stricter immigration policies. All of these pose upside risks to inflation... The Fed is unlikely to cut rates as much as we previously considered, because they will see inflation persistently above their target level."
It is reported that Bank of America has recently raised its terminal federal funds rate forecast to 3.75%-4.00%, up from the previous 3.00%-3.25%.
