BofA "Powell unlikely to provide concrete guidance at this FOMC"

Bank of America (BofA) projected that Jerome Powell, chair of the U.S. Federal Reserve (Fed), is unlikely to provide specific policy guidance at this Federal Open Market Committee (FOMC) meeting.

On the 29th (local time), according to the economic news channel Walter Bloomberg, BofA said in a report, "Given the widening divergence between the labor market and consumer indicators, Chair Powell is unlikely to present a clear direction on the future path of interest rates."

BofA also forecasted, "This statement may mention a solid rebound in U.S. economic activity, and quantitative tightening (QT) will end immediately."

Meanwhile, BofA projected the first rate cut in October 2025, with additional cuts in June, September, and December 2026. Markets are watching whether the Fed will provide concrete signals of a monetary policy shift at this FOMC meeting.