2 years ago
Bank of America: coming "recession shock" possible boon for crypto
The macroeconomic picture is deteriorating fast and could push the U.S. economy into recession as the Federal Reserve tightens its monetary policy to tame surging inflation, Bank of America strategists warned in a weekly research note, Reuters reports. Bank of America chief investment strategist Michael Hartnett wrote, in a note to clients, that “Inflation shock” is worsening, “rates shock” is just beginning, and a “recession shock” is coming.”
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