Bank Of America CEO Brian Moynihan Says Expects Mild Recession In First Part Of Next Year
Portfolio Pulse from Happy Mohamed
Bank of America CEO Brian Moynihan expects a mild recession in the first part of next year, according to CNN.
June 27, 2023 | 12:38 pm
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NEGATIVE IMPACT
Bank of America's CEO Brian Moynihan predicts a mild recession in early 2023, which may impact the bank's earnings and stock price.
A mild recession in early 2023 could lead to lower loan demand, higher credit losses, and reduced interest income for Bank of America. This may negatively impact the bank's earnings and stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
A mild recession predicted by Bank of America's CEO in early 2023 may have a negative impact on the broader market, including the S&P 500 ETF (SPY).
A mild recession in early 2023 could lead to lower corporate earnings and reduced investor confidence, which may negatively impact the broader market, including the S&P 500 ETF (SPY).
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 60