Bank of America has adjusted its Federal Reserve outlook, though the specifics differ from initial reporting. Rather than expecting rate hikes, the bank's current forecast points to a period of pauses followed by delayed rate cuts — pushing those cuts into 2027 rather than earlier in the cycle. This represents a shift from prior forecasts that had suggested cuts could come as early as 2026. The adjustment reflects changing economist expectations about how long the Fed will need to maintain its current policy stance to address inflation concerns. However, this outlook remains one perspective among major financial institutions, and there's still meaningful disagreement about the Fed's actual path forward.