Bank of America presents a bold prediction: the Federal Reserve will raise interest rates three times in a row, and the AI spending cycle will not derail.

Bank of America CEO Brian Moynihan recently predicted that the Federal Reserve will begin increasing interest rates in September during the next three meetings of the year. He also pointed out that the returns from building data centers are sufficiently high, allowing companies to absorb higher financing costs, and that elevated interest rates will not derail the current capital expenditure cycle in the AI sector.