Home » U.S. Federal Reserve may hike interest rates to nearly 6%
The U.S. Federal Reserve may hike interest rates to nearly 6%, according to BofA Global Research , as strong U.S. consumer demand and a tight labor market are pushing up inflation levels. BofA analysts noted that the inflation rate could reach 5% by the end of 2023, which could lead the Fed to hike policy rates in order to contain the surge in prices . This could lead to higher borrowing costs for consumers, as well as higher yields for Treasury securities .
On Tuesday, the S&P 500 shed 0.3% and closed at 3,970.15 . This was a choppy day for stocks, with the S&P 500 up 0.5% near 4,013 in recent trade, while the Dow Jones Industrial Average pushed up 88 points, or 0.3%, to 32,914 . The S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities . As of March 1, the S&P 500® is down -4.00 (-0.10%) compared to the previous closing price [4