Bank of America Expects the Fed to Keep Hiking Rates Until ‘Point of Pain’ for Consumer Demand
2023-03-05Bank of America has warned that the Federal Reserve will have to keep raising interest rates until it finds “the point of pain for consumer demand.” Expecting a slowdown in consumer demand to “lead to an outright recession,” the bank’s economist cautioned that “additional Fed hikes would also mean more pain for the interest-sensitive non-consumer […]