Bank of America: Fed wont cut rates until next year

Odaily News Bank of America observed an improvement in the market environment in the most recent quarter. CEO Moynihan said in a conference call with analysts: This allows our world-leading research team to continue to predict that there will be no recession in the United States, the economy will grow moderately - the growth rate will be about 1.5% by the end of the year, and the Federal Reserve will not cut interest rates before next year. Moynihan said that individual and corporate customers are still continuing to consume and customers are still seeking certainty. He also added that the recent trade agreement and the passage of the tax bill are allowing customers to begin to form clear expectations for the future and adjust their behavior accordingly. (Jinshi)