Bank of America predicts no US recession in September and December, #Fed: to cut #faiz

Bank of America CEO Brian Moynihan spoke on US television over the weekend.

He had a warning for the Federal Open Market Committee (FOMC):

The Fed is in a position to be careful not to slow down too much

He meant to add spending among consumers:

Well, in our consumer base of 60 million customers who spend every week, what you see is that they've spent at the same rate this year as last year, about 3% so far for July and August. That's half the rate last year at this time. And so the consumer has slowed down. They have money in their accounts, but they're running out a little bit. They're working, they're making money, but if you look at it - they've really slowed down.

BoA analysts predict no US recession, and that they'll cut interest rates by 25 basis points in their September and December meetings.