No. of Recommendations: 9
On the subject of Bank of America and their ability to plan sensibly for what's coming...
"We have revised higher our outlook for growth in economic activity this year and next, and no longer expect the economy to fall into a mild recession," Bank of America US Economist... Bank of America now sees the Fed's interest rate hike ending in a "soft landing, where growth falls below trend in 2024, but remains positive."I'm gonna take the other side of that bet : )
Recessions aren't the same as bear markets, so it's not a bet that I can win money from. But as a mere prediction, I'm ready to take the other side.
Put me down for "yeah, an official recession". Timing is always tough, but let's say official start date some time late this coming winter, at a guess.
Of course, betting against B of A's intellectual giants (or anything macro on the cover or Barron's for that matter) isn't exactly taking a big risk.
I wrote that bit about Barron's before checking what they had said recently.
Check it out:
"There Won't Be a Recession This Year. You Can Take That to the Bank." (June 23)
Article here
https://www.barrons.com/articles/when-will-us-rece......which, as it happens, quotes the chief economist at, you guessed it, B of A.
Jim
