PANews reported on May 9th that, according to the latest forecast from Bank of America (BAC), the Federal Reserve will postpone interest rate cuts until the second half of 2027, mainly due to high inflation and strong job growth. Bank of America's global research department had previously predicted that the Fed would cut rates once in September and once in October this year, a view partly based on the expectation that Trump's nomination of Kevin Warsh to succeed Jerome Powell as Fed chairman would guide policymakers to take measures to ease monetary policy. However, this view has now changed with the evolving economic situation. Bank of America economists stated in a report to clients on Friday (May 8th), "We no longer expect the Fed to cut rates this year." They also pointed out that multiple shocks affecting the economy, including the Iran war, tariffs, and the rise of artificial intelligence, have made predicting interest rate changes more difficult.