From CNBC: 2025-02-12 10:54:54

Bank of America CEO Brian Moynihan predicts the Federal Reserve will not cut its benchmark interest rate due to strong consumer spending. Retail customers are spending 6% more this year compared to 2024, prompting expectations for rates to remain steady. The Bureau of Labor Statistics reported higher-than-expected growth in the U.S. consumer price index, leading to market recalibration and limited rate-cutting by the Fed. Bank of America research analysts anticipate no immediate rate cuts due to elevated inflation.

Read more: ‘Rates are going to stay where they are’