- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Bank of America: “We won’t have a recession"
Posted on 9/27/23 at 4:49 pm
Posted on 9/27/23 at 4:49 pm
What great news!
Per Bloomberg today:
Per Bloomberg today:
quote:
Bank of America Corp. Chief Executive Officer Brian Moynihan said his firm’s strategists are still expecting a soft landing for the US economy rather than a recession, a prediction spurred by continued strength in consumer spending.
“We won’t have a recession,” Moynihan said Wednesday at a lunch hosted by the Economic Club of New York, noting that consumer spending has softened since earlier this year but remains strong, and that Bank of America customer savings continue to be robust as well.
The CEO’s remarks follow comments last week by Bank of America Chief Financial Officer Alastair Borthwick that prospects for a US recession are getting dimmer amid robust consumer spending. Federal Reserve economists, meanwhile, have also reconsidered their own predictions for a downturn, with Fed Chair Jerome Powell saying in July that his staff had ditched the recession forecast it put in place earlier in the year.
40
Posted on 9/27/23 at 4:50 pm to Big_Sur
Jim Kramer agrees. Breathe easy America
This post was edited on 9/27/23 at 4:51 pm
Posted on 9/27/23 at 4:52 pm to Big_Sur
Just too big to fail, when you give kick backs to the Big guy
Posted on 9/27/23 at 4:52 pm to Big_Sur
Lehman Brothers is fine! They're not going anywhere and they're as solid as the rock of Gibraltar!
Posted on 9/27/23 at 4:53 pm to Big_Sur
We actually need a small one. Everyone needs to tighten up their exposure to debt and get a little money in savings.
Posted on 9/27/23 at 4:55 pm to Big_Sur
WTF, now we love big banks?
Posted on 9/27/23 at 4:56 pm to Big_Sur
I don’t agree. The hammer is coming and it will be hard
Posted on 9/27/23 at 4:56 pm to Big_Sur
quote:
his firm’s strategists are still expecting a soft landing for the US economy rather than a recession, a prediction spurred by continued strength in consumer spending.
This is assuming that inflation is static or moving downward, which it isn’t and won’t be for years to come. This is also not factoring in the boom in consumer spending from suspended student loan payments which will be restarting soon.
Millennials are spending money they don’t have, and this is going to come home to roost as the price of essential goods continues to climb.
Posted on 9/27/23 at 4:57 pm to Big_Sur
He’s not wrong
Even when we do the Dems will just change the definition of the word again like they did last year and claim that this isn’t a recession.
Literally pissing on us and telling us it’s rain
Even when we do the Dems will just change the definition of the word again like they did last year and claim that this isn’t a recession.
Literally pissing on us and telling us it’s rain
Posted on 9/27/23 at 5:01 pm to Big_Sur
Translation:
Posted on 9/27/23 at 5:02 pm to PhillyTiger90
Haha shortest bull market in history! A historic president!
Posted on 9/27/23 at 5:02 pm to The Pirate King
quote:
This is assuming that inflation is static or moving downward, which it isn’t and won’t be for years to come.
Inflation is unquestionably coming down as of late. It’s about 2.5x target. It was closer to 5x target last year.
Or are you one of those people who thinks inflation dropping = prices lowering?
Posted on 9/27/23 at 5:04 pm to Big_Sur
He’s a democrat. All you need to know.
Posted on 9/27/23 at 5:05 pm to JohnnyKilroy
Now we are pretty much guaranteed a recession.
Posted on 9/27/23 at 5:10 pm to Big_Sur
Sure, Jan.
Posted on 9/27/23 at 5:11 pm to PhillyTiger90
2 biden voters thus far that ate the cheese
Posted on 9/27/23 at 5:13 pm to Big_Sur
Wait, aren’t you the same guy who started a thread celebrating how much inflation is coming down? Keep carrying that water dude. Oh by the way, how is the price of oil trending? What’s the latest rates on the 5 and 10 year Treasuries?
Posted on 9/27/23 at 5:14 pm to Big_Sur
quote:
“We won’t have a recession"
Like another one or are they talking about something else?
Posted on 9/27/23 at 5:20 pm to Big_Sur
He could “technically” be correct but that doesn’t mean it’s not a crappy economy.
They current administration can massage the numbers, but it won’t save him.
They current administration can massage the numbers, but it won’t save him.
Posted on 9/27/23 at 5:22 pm to Big_Sur
We’re definitely having a recession now
Page 1 of 5
Popular
Back to top
Follow TigerDroppings for LSU Football News