{"id":79759,"date":"2026-05-08T21:54:12","date_gmt":"2026-05-08T21:54:12","guid":{"rendered":"https:\/\/site.itshrt.com\/worldnews\/fed-unlikely-to-cut-interest-rates-until-second-half-of-2027-bank-of-america-says\/"},"modified":"2026-05-08T21:54:12","modified_gmt":"2026-05-08T21:54:12","slug":"fed-unlikely-to-cut-interest-rates-until-second-half-of-2027-bank-of-america-says","status":"publish","type":"post","link":"https:\/\/site.itshrt.com\/worldnews\/fed-unlikely-to-cut-interest-rates-until-second-half-of-2027-bank-of-america-says\/","title":{"rendered":"Fed unlikely to cut interest rates until second half of 2027, Bank of America says"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-6606220950177433\"\r\n     data-ad-slot=\"1882483372\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script>\r\n<br \/>\n<\/p>\n<div id=\"\">\n<p>Bank of America predicts the Federal Reserve will delay lowering interest rates until the second half of 2027, mainly due to strong inflation and <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/jobs-report-today-april-2026-economy-iran-war-bls\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">resilient job growth<\/a><\/span>.<\/p>\n<p>Bank of America Global Research had previously penciled in two rate cuts this year in September and October. That view was partly based on the expectation that\u00a0<a href=\"\" target=\"_blank\">Kevin Warsh<\/a>, President Trump&#8217;s nominee to succeed Jerome Powell as Fed chair, would steer policymakers toward easing monetary policy.<\/p>\n<p>But that view has changed amid a shifting economic backdrop.\u00a0<\/p>\n<p>&#8220;We no longer expect the Fed to cut rates this year,&#8221; economists with the financial firm said Friday in a note to clients, while noting that the multiple shocks affecting the economy, including the Iran war, tariffs and emergence of AI, are making it harder to forecast interest rate moves.\u00a0<\/p>\n<p>The BofA analysts aren&#8217;t alone in expecting the Fed to stand pat this year. CME Group&#8217;s FedWatch\u00a0<a href=\"https:\/\/www.cmegroup.com\/markets\/interest-rates\/cme-fedwatch-tool.html\" target=\"_blank\" rel=\"noopener\">tool<\/a>, a measure of financial market sentiment, shows a less than 50% chance of rate cuts until the second half of 2027.<\/p>\n<h2>What&#8217;s impeding rate cuts?<\/h2>\n<p>Several factors could delay Fed rate cuts, BofA Global Research said. First, although Warsh has signaled his openness to easing borrowing costs, several Fed officials remain reluctant to ease rates.<\/p>\n<p>For instance, Federal Reserve Bank of Chicago President Austan Goolsbee and St. Louis Fed President Alberto Musalem have recently pushed back against cutting rates amid concerns that AI-driven productivity gains could boost spending and cause the economy to overheat.<\/p>\n<p>Second, the Fed is grappling with rising inflation, which at 3.3% remains stubbornly above its 2% annual target. Inflation has jumped since the start of the <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/live-updates\/iran-war-trump-us-attacks-qeshm-island-ceasefire\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">Iran war<\/a><\/span> due to higher energy prices. Rate cuts help stimulate economic growth but can also fan inflation.<\/p>\n<p>&#8220;Core inflation is too high, and moving up,&#8221; BofA Global Research said in its note, adding that rate cuts are more likely in the second half of 2027 as inflation starts to recede.<\/p>\n<p>Deutsche Bank economists also expect consumer prices to remain above the Fed&#8217;s 2% annual target over the next year.<\/p>\n<p>&#8220;Trend inflation has not shown clear signs of dipping below 3%,&#8221; they said in a May 8 note to investors, citing ongoing inflationary pressures, including the ongoing impact of tariffs and AI pushing up the cost of computer <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/computer-price-memory-chip-shortage-artificial-intelligence\/\" data-invalid-url-rewritten-http=\"\">hardware and software<\/a><\/span>.<\/p>\n<h2>Solid job growth<\/h2>\n<p>A stronger-than-expected jobs report released Friday also weakens the argument for rate cuts, according to BofA Global Research. Employers\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/jobs-report-today-april-2026-economy-iran-war-bls\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">added 115,000 jobs<\/a><\/span> in April, topping forecasts of 65,000 payroll gains.<\/p>\n<p>With data showing the job market remains steady, Wall Street analysts said on Friday that the Fed will focus on taming inflation.<\/p>\n<div>\n<div style=\"min-height:470px\" id=\"datawrapper-vis-tZqDq\"><img decoding=\"async\" src=\"https:\/\/datawrapper.dwcdn.net\/tZqDq\/full.png\" alt=\"Line chart showing the U.S. monthly unemployment rate from 2022 to the most recent month in 2025.\"\/><\/div>\n<p> <amp-iframe width=\"100\" height=\"100\" layout=\"responsive\" sandbox=\"allow-scripts allow-same-origin\" resizable=\"\" src=\"https:\/\/datawrapper.dwcdn.net\/tZqDq\/14\/\"> <\/amp-iframe><\/div>\n<p>Interest rate cuts are decided by a 12-member panel known as the Federal Open Market Committee, or FOMC.\u00a0<\/p>\n<p>The last time the central bank cut rates was in <span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/federal-reserve-fomc-meeting-today-rate-cut-decision-jerome-powell\/\" target=\"_blank\" data-invalid-url-rewritten-http=\"\">December 2025<\/a><\/span>, when it lowered the federal funds rate by a quarter of a percentage point. The federal funds rate has remained in its current range between 3.5% and 3.75% ever since.<\/p>\n<section class=\"content__body--footer\">\n<p class=\"content__meta--editors\">\n      Edited by<\/p>\n<p>                                  <a href=\"https:\/\/www.cbsnews.com\/team\/alain-sherter\/\" class=\"byline__author__link\" data-invalid-url-rewritten-http=\"\">Alain  Sherter<\/a>\n                      <\/p>\n<\/section>\n<p>  <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation  \">\n        <\/aside>\n<section class=\"content__body--footer\">\n      <!-- tags --><\/p>\n<section class=\"content__tags\">\n<p class=\"content__tags__label\">In:<\/p>\n<\/section>\n<\/section><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6606220950177433\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- ItShrt World News -->\r\n<ins class=\"adsbygoogle\"\r\n     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due<\/p>\n","protected":false},"author":1,"featured_media":79760,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[958,7658,956],"class_list":["post-79759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-watch","tag-federal-reserve","tag-federal-reserve-board","tag-interest-rates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fed unlikely to cut interest rates until second half of 2027, Bank of America says - World News<\/title>\n<meta name=\"description\" content=\"A &amp;quot;hawkish&amp;quot; turn at the Fed and stubbornly high inflation could delay interest rate cuts, according to Bank of America economists.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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