Bank of America Predicts US Recession This Year as Inflation Hits 40-Year High
Bank of America has forecasted that the U.S. economy will slide into a recession this year. “A number of forces have coincided to slow economic momentum more rapidly than we previously expected,” the bank’s economists said. US Economy Heading Into a Recession This Year, Says Bank of America Bank of America’s economists now expect a recession in the U.S. this year. In a report published Wednesday, they explained: “Our previous baseline outlook for the U.S. economy featured a growth recession. But a number of forces have coincided to slow....
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Deutsche Bank’s economists have warned that the U.S. will suffer a major recession next year. However, several other major investment banks, including Goldman Sachs and JPMorgan, are less pessimistic about the future outlook for the U.S. economy. Major US Recession Incoming, According to Deutsche Bank’s Economists Deutsche Bank has predicted a deeper downturn than its previous forecast for the U.S. economy in a report to clients, published Tuesday. The bank’s economists, including David Folkerts-Landau, group chief economist and head of research, explained in the....
Inflation data shows a 106% increase in fuel oil year-over-year with an unexpected 40-year high Consumer Price Index report of 8.6% as bitcoin dips to $29,500.
On Friday, Bank of America’s (BOFA) chief investment strategist Michael Hartnett explained in a weekly financial note to clients that the U.S. economy could head into a recession. The BOFA strategist’s note further detailed that cryptocurrencies could outperform bonds and stocks.
BOFA Strategist Notes inflation Shock Is Worsening, Cryptocurrencies Could Outperform Bonds and Stocks
Bank of America’s chief investment strategist has warned the U.S. economy could feel some economic shocks. In recent times, inflation in the United States has run rampant and the....
The impact of macroeconomic factors on crypto and Bitcoin is increasing as inflation gets stronger. Both the crypto and the traditional market are facing a raging storm. Many international bodies fear that a possible global recession will soon break out. Another round of volatility has commenced in the crypto market. The cause is the US Consumer Price Index (CPI) report. The data is at 8.2% for the September record. Related Reading: Elrond (EGLD) Price May Break Past $56 Hurdle – Here’s How The United States CPI data serves as a gauge for measuring the inflation rate in the country. It....
The American economy continues to look gloomy and signals pointing toward a looming recession continue to appear. In a note sent to clients this week, Goldman Sachs’ chief economist said the bank envisions the “odds of a recession as roughly 15% in the next 12 months and 35% within the next 24 months.” Furthermore, the renowned financial expert John Mauldin details that he would not be surprised if the stock market crashed by 40%, as he believes a recession is likely due this year. Goldman Prediction: ‘Odds of a Recession Roughly 15% in the Next Year, 35% Within....