BofA now expects the Fed to raise rates three times this year, a reversal from
its prior call for unchanged policy. The bank cites stronger-than-expected
economic data and a hawkish shift in Fed communication, implying a more
aggressive response to inf. The forecast remains a minority view: 19% of market
investors now expect three hikes, up from 3% a week ago; most investors still
see two hikes as the likeliest outcome.