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Bank of America CEO Brian Moynihan said Tuesday he’s expecting a “mild recession” in 2023, sounding a more positive note about the state of the economy than many in the financial world have been broadcasting amid 40-year-high inflation. Doomspeak about the possibility of a recession has been coming out of the financial sector since the […]
Bank of America sees inflation falling to this number by the end of next year—but it’ll take a recession to get there
Bank of America says a “mild recession” will raise the unemployment rate to 5.5% next year and cool inflation.