BofA paints robust picture for American economy, says US is more likely to export recessions than import them
Bank of America is betting heavily on behalf of the American economy as it has claimed that the US economy is poised for solid growth in the coming year, with chances that the annualized rate of economic growth could surge to 2.4% in 2025, instead of the usual 2% every other year, according to a Bloomberg report.
The US economy-related predictions from Bank of America comes in even after there are growing concerns about Donald Trump's economic policies which are reportedly inflationary in nature. The various campaign promises about illegal immigration, imposing tariffs on foreign imports, along with tax cuts for corporations, could all pile up and generate a condition for an epic inflation in the American markets in 2025, according to many market experts.
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However, BofA's economic experts are not agreeing to these market predictions and they are of the opinion that 2025 will bring in a major economic surge for the US, as the country has a trend for 'exporting' recessions, and not 'importing' them. This clearly means that the Bank of America is betting on the optimistic future of the US economy through the next year.
FAQs:
Is Bank of America currently loss-making?
Bank of America has reported profits in recent quarters, even as it faces challenges like rising interest rates and economic uncertainty. It is yet to be seen how it fares in thehe remaining quarters this year.
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