Bank of America CEO: The Federal Reserve will maintain the Inrerest Rate unchanged in the next two years.

PANews reported on February 26th that the pricing of the Interest Rate futures contract shows that the Fed is expected to cut the policy Interest Rate by 25 basis points to a range of 4.00%-4.25% at the June meeting, with a probability of over 70% of another rate cut as soon as September. However, Brian Moynihan, CEO of Bank of America, stated on Tuesday that the bank expects the Fed to keep the Interest Rate unchanged in the next two years. He stated at a meeting in Washington: ‘It will take years to squeeze out inflation, and the Fed’s efforts to control inflation are likely to continue until 2026.’ Friday’s Personal Consumption Expenditures (PCE) report is expected to show the Fed’s progress in combating inflation.