The CEO of Bank of America, Brian Moynihan, said that the financial giant no longer believes a recession is on the horizon for the American economy, hinting that the Biden administration and Federal Reserve have achieved a ‘soft landing’ after inflation troubles in recent years,” The Hill reports.

  • No_Eponym@lemmy.ca
    0·
    10 months ago

    “No recession, for realsies! Now be optimistic and rack up that debt! Maybe get another mortgage! Don’t worry, this economy is fire!”

    /- the Bank, with absolutely no ulterior motive behind its messaging whatsoever

    • tills13@lemmy.world
      0·
      10 months ago

      I mean in their terms a recession has a very specific meaning and does not preclude a large number of people suffering an affordability crisis.