Brian Moynihan, the head honcho at Bank of America, predicts a slowdown in the U.S. economy by mid-next year. In a chat with Fox Business, he mentioned that, based on their in-house research, the Federal Reserve might start slashing interest rates sometime between the middle and end of next year.
Delving deeper, Moynihan described this as a potential "soft landing." But he also threw in a word of caution, hinting at the potential for geopolitical disruptions if the Fed's measures turn out to be overly aggressive.
He shed light on the ripple effect of interest rate hikes on both consumers and businesses. Just to give a sense of scale, the Federal Reserve has bumped up its principal interest rate 11 times since the previous March, taking it to a peak not seen in over two decades. Not forgetting inflation, he pointed to the recent
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