The stock market has been experiencing wild swings since the beginning of the year due to rising inflation and the consequent interest rate hikes to combat it. Bank of America analysts predict a mild recession will emerge in the second half of 2022 as inflation fears weigh on consumers.
The forecast considered the consumer price index’s 9.1% increase in June, beating the 8.8% estimate. BofA also anticipates GDP to decline by 1.4% in the fourth quarter of 2022 compared to the previous year, followed by a 1.0% increase in 2023.
