BofA Forecasts Two Fed Rate Cuts

BofA maintains forecast of two Federal Reserve rate cuts in 2026, citing supply‑driven inflation, weak wage pressure and politics.
BofA expects incoming Fed Chair Kevin Warsh by September to have enough evidence of cooling inflation to support easing.
March FOMC minutes show a wait‑and‑see stance, with some officials still favoring cuts while others hint at possible hikes.
BofA notes February consumer spending rose 0.1% MoM (0.8% annualized) and headline PCE rose 4.1% annualized, warning energy prices may pressure spending.