BANK OF AMERICA raises chance of recession to 1-in-3
Recession risk is rising, according to Bank of America.
Based on the most recent data, the bank’s global economist now sees a greater than 30% chance of a recession in the next year.
Uncertainty around the U.S.-China trade war and a global economic slowdown have caused interest rates to tumble and weighed on the major stock averages in recent weeks. Last month’s jobs report showed a strong consumer, but business investment is low as investors and business owners juggle new tariffs and fiscal policy uncertainty.