Bank of America: The Fed's sharp rate cut will help the economy avoid recession
The U.S. Federal Reserve announced a 50-basis-point rate cut. Bank of America stated that the Federal Reserve may choose a significant rate cut, with another 75-basis-point cut this year and a 125-basis-point cut by 2025, to help the U.S. economy avoid a recession. As the rate cut becomes a reality, the credit industry, which has already priced in a U.S. economic recession, is expected to recover from the low pricing.
