Bank of America Research no longer sees signs of a U.S. recession in the near future, CEO Brian Moynihan says. (Davis Turner/Getty Images / Getty Images)
Ticker Security Last Change Change % BAC BANK OF AMERICA CORP. 40.14 -0.36
-0.89%
While the bank is no longer forecasting any chance of a recession in the near future, other see an opposite view.
JPMorgan Chase economists warned last week that the odds of the U.S. entering a recession this year have increased.
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In an analyst note, JPMorgan economists led by Bruce Kasman raised the odds of an economic downturn this year to 35%, up from their previous 25% estimate, citing easing labor market pressures.Â
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“U.S. wage inflation is now slowing in a manner not seen in other DM [developed market] economies,” they wrote. “Easing labor market conditions increase confidence both that service price inflation will move lower and that the Fed’s current policy stance is restrictive.”
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JPMorgan’s analysts still see a 45% chance of a recession in the second half of 2025.
FOX Business’ Megan Henney contributed to this report.
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Publish date : 2024-08-12 07:48:00
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