The likelihood of two rate cuts by the Fed in 2023 is increasing.

Bank of America's Evaluations

In accordance with market expectations, there appears to be an increasing consensus within the Federal Reserve (Fed) for two more 25 basis point interest rate cuts this year. This situation is highlighted in evaluations made by Bank of America.

Dovish Approach of New York Fed President

In particular, John Williams, the President of the New York State Bank, has shifted towards a more dovish tone due to risks related to the labor market. This change is regarded as a development closely monitored by investors.