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Fortune
Fortune
Eleanor Pringle

Bank of America analyst warns the Fed will hike rates to 'point of pain' to get inflation down

Jerome Powell, chairman of the US Federal Reserve (Credit: Valerie Plesch—Bloomberg/Getty Images)

It seems the bullish confidence in America's economy may take another hit after analysts warned the Fed could hike rates up to 5.5%—despite the fact they're already sitting at a 16-year high.

It comes after a series of gloomy headlines for stock exchanges as February wound up: All three of the main U.S. equity benchmarks posted a loss in February as the Dow Jones sunk to its lowest level of the year to date.

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