July 17, 2022

Cheaper oil and gas won't prevent a 75-basis-point hike as inflation runs rampant - and the Fed might get even more aggressive, BofA says

Even as energy prices trend down from recent highs, Bank of America still expects the Federal Reserve to make a 75-basis-point rate hike at the next FOMC meeting, but there's a chance of an even more aggressive move."We think the main takeaway from the June inflation data is that underlying price pressures remain robust and unacceptably high relative to the Fed's mandate," BofA analysts wrote in a Friday note.

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