SYDNEY (Reuters) – Bank of America Chief Executive Officer Brian Moynihan said on Tuesday the U.S economy would reach a technical recession starting in the third quarter of 2023. Moynihan told The AFR Business Summit in Sydney a U.S recession would not be deep and the bank forecast interest rates would start falling in the […]
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Bank of America CEO Moynihan says U.S economy to reach technical recession
SYDNEY (Reuters) – Bank of America Chief Executive Officer Brian Moynihan said on Tuesday the U.S economy would reach a technical recession starting in the third quarter of 2023.
Moynihan told The AFR Business Summit in Sydney a U.S recession would not be deep and the bank forecast interest rates would start falling in the second quarter of 2024.
(Reporting by Praveen Menon and Lewis Jackson in Sydney; Editing by Chris Reese)