Bank of America has shifted its outlook for monetary policy in a decidedly hawkish direction and now sees more rate rises this year than even the most aggressive outlook held by a central banker.
The Fed is likely to raise its now near zero short-term interest rate target seven times over the course of this year, on its way to a stopping point of between 2.75% and 3%, wrote Ethan Harris, chief global economist for the bank.
Read more on wsj.com