Navigating the Rolling Recession: Insights from BofA and Investment Strategies
The US is experiencing a rolling recession that is impacting different sectors of the economy, such as manufacturing, energy, and housing, while services remain strong. Bank of America executive Keith Banks believes this gradual downturn has reduced the risk of a sudden hard landing for the economy. He predicts a mild recession in the first half of 2024, with GDP slowing by 1%-1.5%. Other experts are also becoming more optimistic about the economy, citing a strong job market and cooling inflation as factors that may prevent a full-blown recession.