Bank of America Warns of Future Inflation Shocks, Declares ‘Technical Recession’

Bank of America Warns of Future Inflation Shocks, Declares ‘Technical Recession’
A trader works on the trading floor at the New York Stock Exchange (NYSE) on May 20, 2022. Andrew Kelly/Reuters
Emel Akan
Updated:
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Bank of America issued a warning that the inflation shock in the United States isn’t over yet and that the economy is in “technical recession,” even if most people are unaware of it.

“We’re in technical recession but just don’t realize it,” Michael Hartnett, the bank’s chief investment strategist, wrote in a note ahead of the June 10 inflation data.

Emel Akan
Emel Akan
Reporter
Emel Akan is a senior White House correspondent for The Epoch Times, where she covers the policies of the Trump administration. Previously, she reported on the Biden administration and the first term of President Trump. Before her journalism career, she worked in investment banking at JPMorgan. She holds an MBA from Georgetown University.
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