1031 ET - Bank of America isn't forecasting a recession just yet, but says its research team has lowered its GDP growth rates for 2025. The team also doesn't see any rate cuts this year, CEO Brian Moynihan says on an analyst call. Despite plenty of market uncertainty, Bank of America says consumers are still spending--either by debit/credit cards, checks, Zelle payments or other forms. Moynihan says that while consumers may be changing their spending behavior, in the aggregate they "keep pushing money into the economy." (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
April 15, 2025 10:31 ET (14:31 GMT)
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