Bank of America CEO Moynihan spoke in an interview with Bloomberg TV.
Headline comments:
- US interest rates will begin falling in Q2 2024
- Don’t think we will see a deep recession in the US
- The US will have a "technical recession"
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Note that a recession is generally defined as two consecutive quarters of negative economic growth, that is,. a contraction in gorwth. A 'technical recession' is this definition. Thus a 'technical recession' is a recession.
Graph via the St Louis Fed:
