Bank of America no longer predicting recession, CEO says

Bank of America’s economists no longer predict a U.S. recession, CEO Brian Moynihan announced, saying the bank now expects modest economic growth of 1.5% to 2% over the next six quarters.

This contrasts with last year’s forecast, which anticipated a recession.

However, JPMorgan Chase economists have raised the likelihood of a recession this year to 35%, up from 25%, citing a slowdown in wage inflation and easing labor market conditions, Fox Business has reported.

read more: https://www.foxbusiness.com/economy/bank-america-no-longer-predicting-recession-ceo-says

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