According to online reports, the current pricing of interest rate futures contracts shows that the Federal Reserve will cut its policy rate by 25 basis points to the range of 4.00%-4.25% at its June meeting, and the possibility of cutting interest rates again as soon as September is more than 70%. However, Bank of America CEO Brian Moynihan said Tuesday that the bank expects the Fed to keep interest rates unchanged this year and next. "It will take years to squeeze out inflation, and the Fed's efforts to control inflation are likely to last until 2026," he said at a conference in Washington. Friday's Personal Consumer Price Index (PCE) report is expected to show the Fed's progress in fighting inflation.