The Federal Reserve is about to announce the latest FOMC policy interest rate decision. The Chicago Mercantile Exchange Group FedWatch tool shows that the possibility of cutting interest rates at this meeting is almost zero. Bank of America economist Claudio Irigoyen said that compared to market expectations, the bank believes that delaying easing is the best policy. He said that the rise in inflation and the decline in economic activity will lead to stagflation, and the work of the Federal Reserve will be more difficult. Therefore, priority should be given to the risk of inflation and the strengthening of its own reputation. Unless activity data falls sharply, interest rate cuts should be postponed.

The Federal Reserve is about to announce the latest FOMC policy interest rate decision. The Chicago Mercantile Exchange Group FedWatch tool shows that the possibility of cutting interest rates at this meeting is almost zero. Bank of America economist Claudio Irigoyen said that compared to market expectations, the bank believes that delaying easing is the best policy. He said that the rise in inflation and the decline in economic activity will lead to stagflation, and the work of the Federal Reserve will be more difficult. Therefore, priority should be given to the risk of inflation and the strengthening of its own reputation. Unless activity data falls sharply, interest rate cuts should be postponed.