Posted 1/19/2024, 2:46:00 PM
BofA CEO: Fed Could Cut Rates to Near Zero by 2025 to Buoy Slowing Economy and Avoid Recession
- The Fed will cut interest rates 8 times over the next 2 years to prop up the economy, says BofA's CEO Brian Moynihan
- Cuts will avoid "tipping the economy over" as growth slows post rate hikes
- Rates could fall from current 3.25-3.5% range down to near 0% by end of 2025
- Rate cuts aim to buoy the economy as metrics show it has slowed
- Markets see high chance of recession by end of 2023 amidst tight conditions