Bank of America CFO Says Recession Hard to See With Consumers Still Spending
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Bank of America Corp.’s chief financial officer said prospects for a US recession are getting dimmer amid robust consumer spending.
“It’s difficult to see a US recession when the consumer is spending 4% more year-over-year,” Alastair Borthwick said at the company’s annual financials CEO conference Wednesday. “The consensus would say a very small recession, pushed out.”