Seriously?

 

The US economy will grind to a halt in the 2nd half of 2023 and the following year won't be much better, BofA says as it slashes its growth forecast

News flash:

ITS ALREADY THERE!

"...analysts said the Fed was too slow to aggressively tackle inflation, which is running at a 40-year high, and abruptly scrambling to get on top of it."

(They couldn't do it, they knew what would happen if they did.)

"Despite the Fed's more hawkish stance, the bank doesn't see inflation cooling enough to get down to the central bank's 2% target. Instead, it will persist around 3%, it said. While supply problems and demand for goods will ease, inflation expectations are anchoring at higher levels and wage pressures will likely be tough to reverse."

(Hello? It's hovering around 8.6% nitwits, oh and demand has eased alright, nobody's got any $ to go anywhere let alone spend any $ when they get there. Supply problems are gonna ease? Did somebody just bring a bunch of refineries online or something I didn't hear about? What is their basis for their assumptions other than just wishful thinking?)

"If the Fed does induce a recession, there is one bright spot, Bank of America said: "It is easier for the Fed to manage a sharp slowdown if Fed policy is the cause of the slowdown. For the same reasons we think that if there is a recession it will be mild."

( Seriously? This is the Bank of America saying such nonsense. The fed didn't induce the slowdown. It's already been here for a while. Scarcity in energy and food have caused the slowdown, not the fed, and for this reason I believe there wont just be a recession, there will be  complete economic devastation and it will be far from mild.)