Bank of America president Brian Moynihan said the US will face a mild recession in the third and fourth quarters of 2023 and the first quarter of 2024. GIS.
“At the end of last year, we predicted a recession this year. We have now (estimates. – socialbites.ca) postponed to a later date. In fact, this is a moderate recession in the third and fourth quarter of this year, as well as in the first quarter (next year. – socialbites.ca).
According to Moynihan, unemployment in the country will rise to 4 percent.
Earlier, US President Joe Biden said that the situation with the national debt is good. settle down and thus avoid crashing. He noted that the crisis was averted thanks to a bill to raise the national debt ceiling in the country, but “the risk is higher than ever”. The president added that after the adoption of the bill to raise the national debt ceiling, neither party got what it demanded, but the American people got what they needed.