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Bank of America Sees Slowing GDP Amid Stagflation Fears

3/19/2025

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Summary

Story summary

Bank of America CEO Brian Moynihan forecasts U.S. GDP growth to slow to approximately 2% this year due to tariffs.
Consumer spending remains steady, transitioning from goods to services despite low confidence.
A significant 71% of global fund managers express concerns about stagflation, resulting in record stock sell-offs.
Economic slowdown and inflation fears are prompting a shift from U.S. equities to international markets.

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Story summary

Bank of America CEO Brian Moynihan forecasts U.S. GDP growth to slow to approximately 2% this year due to tariffs.
Consumer spending remains steady, transitioning from goods to services despite low confidence.
A significant 71% of global fund managers express concerns about stagflation, resulting in record stock sell-offs.
Economic slowdown and inflation fears are prompting a shift from U.S. equities to international markets.