Bank of America Eliminates 2024 U.S. Recession Forecast
Monday, 12 August 2024, 09:34
Bank of America No Longer Forecasts a U.S. Recession in 2024
BofA's latest prediction suggests the Federal Reserve's efforts at taming inflation while keeping the U.S. economy afloat are being effective.
Key Highlights
- Consumer spending has softened, yet remains strong.
- CEO Brian Moynihan expressed optimism regarding economic stability.
- The revised outlook indicates a minimized risk of recession.
This optimistic outlook suggests that consumers and investors can expect continued growth, leading to a > b (high) confidence in the economy's resilience.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.