Bank of America economists expecting mild recession this year

A Hot CPI Report Makes a Recession a Near Certainty

Odds that the Fed will hike rates 1% at its next meeting went from 2% on Tuesday to 75% Wednesday afternoon.

Bank of America economists expecting mild recession this year

Bank of America economists predicted that the United States will face a mild recession this year in a report released on Wednesday.

US Inflation May Peak Soon as Economy Heads Into Recession

Financial markets were surprised by the U.S. annual inflation rate rising to a fresh 40-year high of 9.1 percent in June, topping the market estimate of 8.8 percent. The broad-based consumer price index (CPI) sent the leading benchmark indexes lower with greater expectations that the United States will slip into a recession and the Federal Reserve may accelerate its tightening efforts this month. Wall Street and public policymakers are now discu…

A recession this year? That's the first call by BofA's brand-new head of U.S. economics

Michael Gapen's first report with his BofA economics team landed right after the red-hot 9.1% inflation print.

A Recession Is Coming This Year

Bank of America economists forecast a “mild recession this year” in the Untied States, saying services spending is slowing and hot inflation is spurring consumers to pull back, Bloomberg reports.

US stocks tumble as inflation rises to 9.1%; 'mild recession' warning issued

Stocks tumbled on Wednesday after inflation accelerated in June more than expected, putting pressure on the Federal Reserve to remain aggressive in its fight against price increases.