Bank of America Securities: August Economic Data Could Alter Fed's September Rate Hike Outlook

BlockBeats News, August 31st: In a report, Bank of America Securities stated that after Fed Chair Kevin Wash's speech on Friday, the market's probability for a September rate hike rose to nearly 60%. However, the Fed's future tightening policy may still depend on the upcoming August economic data.

Analysts stated: "We cannot yet conclude that a rate hike is certain because if the August data is very weak, the situation could still change. But if there is no significant unexpected downturn, then the responsibility for a September rate hike falls on Wash."

The August employment report will be released this Friday. The July employment report was significantly weaker than analysts' expectations, causing some economists to start questioning the potential growth momentum of the U.S. economy.