"Wall Street's 'last hawk' surrenders! Shouting 'No rate cuts all year,' Bank of America bets on Fed rate cuts in September and December."

According to the Wisdom Finance APP, economists at Wall Street financial giant Bank of America Corp. expect the Federal Reserve to announce two interest rate cuts this year based on exceptionally weak August non-farm payroll data - expected in September and December respectively. Bank of America has completely abandoned the hawkish monetary policy expectations that investors once viewed as "eccentric" on Wall Street, i.e. the expectation that the Fed will not take action to cut interest rates until next year. Now, as significant cracks appear in the labor market and multiple data points indicate that the US economy may be sharply slowing down, Bank of America has completely abandoned the hawkish expectation of "no interest rate cuts for the whole year."