Bank of America: Oil price shock may push up the Fed's inflation forecast, with Powell emphasizing a wait-and-see stance

GateNews

2026-03-13 14:21:31

Gate News Report, March 13 — U.S. banks stated that the Federal Reserve will have to respond to supply shocks caused by soaring oil prices. In the economic projections summary (SEP) released before the March Fed meeting, overall and core inflation forecasts may be revised upward. The U.S. bank report noted that if long-term growth expectations are also raised, the median dot plot for long-term interest rates could shift slightly higher. In this scenario, Federal Reserve Chair Powell might acknowledge the risk of stagflation while emphasizing a wait-and-see approach.

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