[Bank of America: Oil Price Shock May Raise Fed's Inflation Forecast, Powell to Emphasize Wait-and-See Approach] Jin10 News, March 13 – Bank of America stated that the Federal Reserve will have to deal with another round of supply shocks—surging oil prices. In the Summary of Economic Projections (SEP) to be released ahead of the March Federal Reserve meeting, overall and core inflation forecasts may be revised upward. Bank of America’s report noted: 'If long-term growth expectations are also revised upward, we expect the median dot plot for long-term interest rates may slightly increase.' In this scenario, the bank believes Federal Reserve Chair Powell may acknowledge the risk of stagflation while emphasizing a wait-and-see approach.