The US economy will grind to a halt in the 2nd half of 2023 and the following year won't be much better, BofA says as it slashes its growth forecast

Posted on AllSides June 22nd, 2022
From The Left
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Bank of America has sounded the alarm on the US economy, predicting growth will stall next year and that the likelihood of a recession will surge.

In a note published on Friday — two days after the Federal Reservehiked interest rates by 75 basis points — analysts said the Fed was too slow to aggressively tackle inflation, which is running at a 40-year high, and abruptly scrambling to get on top of it.

Now the bank sees GDP growth slowing to nearly zero by the second half of 2023 because of the influence...

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