News list for " moynihanton"

Bank of America CEO Moynihan has urged Federal Reserve policymakers to be measured in how much they cut rates. Moynihan said the Fed moved "too late" to raise borrowing costs in 2022 and now they have to make sure they don't go too far in cutting rates. He expects the Fed to cut rates by another 50 basis points before the end of the year and then four more times in 2025 by 25 basis points each, at which point the end point rate will reach 3.25%. He expects inflation to be...

2024-10-23 10:07:15