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Investors could be in for seven 25-basis-point interest rate hikes this year, or one at each remaining Federal Reserve meeting, considering the central bank “has all but admitted that it is seriously behind the curve,” according to a note by BofA Global Research. In the note released Friday, economist Ethan Harris and others made a call for seven 2022 hikes even though they’ve also cut their forecast for GDP growth this year to 3.6%, from 4% previously, citing supply and demand factors.
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