BofA Joins Fed in Reversing Recession Call Amid Growing Optimism
- Bank’s economists now see soft landing as most likely outcome
- See first rate cut in June 2024, slower pace of cuts to follow
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Economists at Bank of America Corp. scrapped their forecast for a recession in the US, becoming the first large Wall Street bank to officially reverse its call amid growing optimism about the economic outlook.
The change comes just a week after Federal Reserve Chair Jerome Powell told reporters that the central bank’s own economists are no longer forecasting a recession.