1028 ET - BofA expects the Federal Open Market Committee to remove its easing bias from its statement, with no dissents in its decision next week. In June's meeting they expect the FOMC to keep the policy rate at 3.5%-3.75%. They also predict the summary of economic projections should show higher inflation, a lower unemployment rate and no interest rate cuts this year. A few policymakers will likely project hikes. Like other economists have forecast, the bank says new chairman Kevin Warsh will not submit forecasts and will lean dovish in the presser. He will argue supply shocks are one-offs, the Fed should be forward-looking on AI disinflation and trimmed mean PCE and wage inflation do not look problematic. (jessica.coacci@wsj.com)

(END) Dow Jones Newswires

June 12, 2026 10:28 ET (14:28 GMT)

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