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Bank of America Fed Outlook Gets More Hawkish Amid Inflation Worries
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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.
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