Bank of America CEO: Fed will keep interest rates unchanged this year and next

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ODAILY
02-26
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Odaily reports that Brian Moynihan, the CEO of Bank of America, said on Tuesday that the bank expects the Federal Reserve to keep interest rates unchanged this year and next. He pointed out at a conference in Washington: "It will take years to squeeze out inflation, and the Federal Reserve's efforts to control inflation are likely to continue until 2026." The Personal Consumption Expenditures (PCE) report on Friday is expected to show the Federal Reserve's progress in fighting inflation. Federal Reserve policymakers are currently keeping interest rates unchanged. They have also stated that they are looking for more evidence that the inflation rate is falling back to the 2% target before they feel comfortable cutting rates. They cited the uncertain impact on prices, economic growth, and the labor market of measures in the Trump plan, including tariffs, tax cuts, cracking down on immigration, and continued reductions in federal policy employees.

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