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BoA warn an extended US debt breach would mean a "severe recession" & Fed rate cuts in Q3

BoA warn an extended US debt breach would mean a
Bank of America on the US debt ceiling outlook:Should any X-date breach last a month or more and involve prioritization of debt payments it would mean immediately cutting spending by about 5% of GDPWhat this means is that:this would turn an otherwise mild recession into a severe recessionAnd the implication for the Federal Open Market Committee (FOMC):rate cuts could come as quickly as 3Q 23 This article was written by Eamonn Sheridan at www.forexlive.com... Read More
Posted: May 17 2023, 03:20
Author Name: forexlive
Views: 111796

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