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Bank of America Projects Economic Activity Into 2025

A new Bank of America Merrill Lynch forecast sees relatively consistent economic growth until 2025, with interest rates higher by nearly 3.5 percent by 2018.

Bank of America: Long run unemployment remains steady

The bank’s U.S. economic forecasting team sees long-run unemployment remaining steady at 5 percent, due in large part to economic factors, while inflation starts to creep into the picture in 2016 – and by 2018 most inflation measures will exceed the Fed’s 2 percent target.

The “Long-run projections for key macro variables” was developed by Ethan Harris, Michelle Meyer, Michael Hanson, Emanuella Enenajor, Lisa Berlin and Alexander Lin, all in the U.S. economics division in New York.

The report shows consumer spending rising from 2.7...