Summary
- Brian Moynihan, BofA CEO, stated that the Fed is not likely to implement a rate cut within this year.
- BofA economists noted that the decline in inflation is slower than expected.
- Moynihan projected that rate cuts would only begin next year.
According to economic news account Walter Bloomberg on the 5th (local time), Brian Moynihan, CEO of BofA, stated, "Our economists expect that it will take more time for inflation to come down, and consequently, the US central bank, the Fed, is not expected to lower rates within this year."
Moynihan added, "The Fed is likely to start cutting rates only next year."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
![[Exclusive] KakaoBank meets with global custody heavyweight…possible stablecoin partnership](https://media.bloomingbit.io/PROD/news/a954cd68-58b5-4033-9c8b-39f2c3803242.webp?w=250)
![Trump ally Myron, a Fed governor, resigns White House post…pushing for rate cuts until Warsh arrives? [Fed Watch]](https://media.bloomingbit.io/PROD/news/75fa6df8-a2d5-495e-aa9d-0a367358164c.webp?w=250)
