Bank of America CEO Brian Moynihan says the US will enter a recession in the 3rd quarter of this year
Bank of America CEO Brian Moynihan warned the US will enter a recession this year, though a downturn is unlikely to be severe.
A recession will start in the third quarter then continue through the fourth quarter and into the first quarter of 2024, Moynihan said at The Financial Review's Business Summit on Tuesday, according to"It's a very slight recession in the scheme of things. I don't think you'll see a deep recession," he added."It will be more of a technical recession than it will be a deep drop in the US.
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