Bank of America on the Federal Reserve - now projecting the first FOMC rate cut at the June meeting. BoA were previously forecasts March.
Citing:
- very few inflation readings before May
- FOMC preferring to make policy changes at meetings with new quarterly economic projections
BoA temper their June forecast by saying “May is on the table”.
BoA add the Fed will announce a tapering of its balance-sheet runoff in May. Previoulsy were also in March for this.
The dates to watch
