Bank of America: Still expects the Fed to cut interest rates in December

Odaily Planet Daily Report: Stephen Juneau, an 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 we can also understand why the market feels it's a bit like flipping a coin, as the US economy remains very strong and inflation is still above target levels. We will see deregulation, more expansionary fiscal policy, more protectionist trade policy, and tighter immigration policy. All of these will pose upside risks to inflation... The Fed is unlikely to cut rates as sharply as we previously considered, as they will see inflation remaining above their target level." It is reported that Bank of America has recently raised its final federal funds rate forecast to 3.75%-4.00%, up from 3.00%-3.25% previously. (Gold Ten)