U.S. Bank: Expects the Fed to Hold Rates Steady Until Next Year, Economy to Grow Modestly

BlockBeats News, July 16th, Bank of America observed an improved market environment in the most recent quarter. CEO Moynihan stated in a call with analysts: "This has allowed our globally leading research team to continue to predict that the U.S. will not experience an economic recession, and the economy will grow modestly — with year-end growth of around 1.5%, and the Fed will not cut rates before next year." Moynihan noted that individual and business customers are still spending, seeking certainty, and recent trade agreements and the passage of tax legislation are starting to give customers a clear expectation of the future, allowing them to adjust their behavior accordingly. (FX168)