https://sputnikglobe.com/20230604/bank-of-america-head-predicts-start-of-recession-in-us-in-second-half-of-2023-1110907596.html

Bank of America Head Predicts Start of Recession in US in Second Half of 2023

Bank of America Head Predicts Start of Recession in US in Second Half of 2023

Sputnik International

Bank of America CEO Brian Moynihan said Sunday the country may face a mild recession in the second half of this year and in the first quarter of the next year.

2023-06-04T18:03+0000

2023-06-04T18:03+0000

2023-06-04T18:03+0000

americas

jerome powell

us

us economy

us budget

us debt ceiling crisis

recession

bank of america

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"So the last time I was here was the end of last year and we predicted a recession this year. We moved it out. It's basically third quarter this year, fourth quarter, this year into first quarter, a mild recession. And unemployment gets up in high 4% range, still very low by historical norms," Moyhinan said in an interview to CBS News channel. In May, Federal Reserve Chairman Jerome Powell said that the US may be heading toward what he hopes is a mild recession. Policymakers at the Federal Reserve have also projected that the US will experience a "mild recession" later this year that could take two years to overcome, minutes of the central bank's policy meeting from March showed.

https://sputnikglobe.com/20230503/will-the-us-plunge-into-recession-this-year-1110065190.html

americas

2023

News

en_EN

us, us economy, us budget, us debt ceiling crisis, recession, us recession, recession in us, bank of america