White House warns of “extraordinarily elevated” inflation data… Bank of America warns of looming economic slowdown

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Bank of America warns of looming economic slowdown

Talk of a looming recession is rampant around the globe, and now a major U.S. bank has issued its own dire forecast for the global economy.

It’s been over a month since Russia invaded Ukraine, leading to an unforeseen and prolonged fallout for the global economy. Combined with an inflation problem that was already spiking the prices of virtually every commodity, global institutions have begun ringing the alarm bells that we are on the brink of a long-anticipated recession.

 

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