Trump's trade, fiscal and immigration policy agenda is expected to trigger moderate inflation, BofA analysts wrote, predicting that the changes would be reflected in inflation in the second half of 2025. They noted that any additional tariffs in the coming weeks could bring the timeline forward. "A key question is whether policy changes will affect long-term inflation expectations," they said, adding that market-based measures of inflation remained within historical ranges. BofA reiterated its s...