Reported 11 months ago
Bank of America Securities managing director and chief US economist Michael Gapen predicts that reaching the Federal Reserve's 2% inflation target may be achieved in 2026, a year later than Treasury Secretary Janet Yellen's projection of 2025. Gapen anticipates a gradual rate cut cycle later this year, cautioning that the process could unfold more slowly than Yellen suggested. He expresses optimism about the US achieving a 'soft landing' economically, as each quarter increases the probability of this outcome. Watch Yahoo Finance's full interview with Janet Yellen for more insights.
Source: YAHOO