BofA and Goldman Push Back Fed Rate-Cut Expectations as Oil Shock and Strong Jobs Market Complicate Inflation Fight

Bank of America and Goldman Sachs pushed back their Fed rate-cut forecasts.

They cited higher oil prices tied to the Iran conflict and a resilient U.S. labor market.

The combination is keeping inflation pressures elevated and reducing the case for near-term easing.

The shift suggests borrowing costs may stay higher for longer, with effects on markets and consumers.