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Economy
This is a photo of a US $100 bill with a red arrow pointing downwards in front of it.
The stock market could continue to tumble in the face of rising inflation and a recession.

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  • The US is in a rolling recession that's hitting sector by sector, Bank of America's Keith Banks said.
  • Banks pointed to weakness in manufacturing, energy, and housing, though services remains strong.
  • He predicted a mild recession to come in the first-half of 2024, with GDP slowing 1%-1.5%.

The recession Wall Street predicted to death is hitting the economy sector by sector rather than all at once – and that's slashed the risk of a sudden hard landing, according to Bank of America executive Keith Banks.

Tags
economy, Markets, US economic outlook, Recession, recession 2023, recession outlook, rolling recession, mild recession, Housing, Manufacturing, Services, energy, Consumer spending, Retail Spending, US Economy and Markets, Bank of America
Source
The US is going through a rolling recession, and that's slashed the risk of a h…