Bank of America is predicting a mild recession will happen during the last two quarters of 2023. Brian Moynihan, CEO of Bank of America stated that this recession will be the consequence of the U.S. Federal Reserve tightening actions in order to fight inflation, and how this will increase unemployment to 4%. Bank of America CEO Predicts Mild Recession Bank of America is still predicting a mild recession in the U.S. economy that will happen later this year. In a recent interview on CBS “Face the Nation,” Brian Moynihan, Bank of America CEO discussed this new prediction and the reasons behind it. When asked about Bank of America’s forecast for the U.S. economy, Moynihan stated: So the last time I was here was it was the end of, uh, last year and we predicted a recession this year. We moved it out. It’s basically third quarter this year, fourth quarter, this year into first quarter, a mild recession. Moynihan explained this recession will be the effect of the tightening action of
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