Bank of America still look for 1 more Fed rate hike, +25bp in November (75bp cuts in 2024)

<p>Bank of America says hawks and doves both got something from Jackson Hole:</p><p>BoA's main takeaways:</p><ul><li>Fed Chair Powell's speech at Jackson Hole was somewhat balanced, with hawkish and dovish elements. </li><li>Markets took the comments as slightly hawkish, moving closer to our call for a 25bp hike in Nov &amp; only 75bp of cuts in 2024.</li><li>We remain comfortable with our call for one more 25bp hike in November and 75bp of cuts next year, starting in June and proceeding at a quarterly cadence. </li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.