Bank of America forecasts 'mild recession' in US

The United States might fall into a mild recession in the second half of 2023 and the first quarter of 2024, Bank of America CEO Brian Moynihan said in an interview on CBS News channel on Sunday, Report informs via foreign media.

"So the last time I was here was the end of 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," he said.

He said unemployment will rise to 4%.