TechFlow, July 16 — According to Jinshi Data, Bank of America observed an improvement in market conditions during the most recent quarter. CEO Moynihan stated during a conference call with analysts: "This leads our globally leading research team to continue forecasting that the U.S. will avoid an economic recession and experience moderate growth—around 1.5% by year-end—and that the Federal Reserve will not cut interest rates before next year."
Moynihan said individual and corporate customers continue spending, and clients are still seeking certainty. Recent trade agreements and the passage of tax legislation are helping clients form clearer expectations about the future and adjust their behavior accordingly.
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