The Federal Reserve's fight against inflation and a housing shortage could send mortgage rates soaring above 7%, according to Bank of America economists.
Nearly two-thirds of employees are worried about their finances amid scorching hot inflation, according to a recent report released by Bank of America.
The bond market is crashing as the Federal Reserve hikes interest rates to combat inflation, a warning sign for the U.S. stock market, according to Bank of America.
U.S. investor sentiment has dropped to its lowest level since the 2008 financial crisis as the Federal Reserve raises interest rates, according to Goldman Sachs analysts.
The U.S. stock market is poised to tumble even lower in coming weeks as investors confront inflation that is still near a multi-decade high and rising interest rates.
The U.S. economy is likely headed for a recession as the Federal Reserve raises interest rates at the fastest pace in decades, according to Bank of America strategists.
Bank of America announced this week that it is starting a mortgage option for first-time home buyers offering no down payments, closing costs or minimum credit scores.
Bank of America CEO Brian Moynihan said the White House arguing about the definition of a recession is not helpful because Americans are being hit by high prices.
Bank of America's new U.S. chief economist has projected that the Federal Reserve will trigger a recession as it hikes interest rates to cool inflation.
Optimism on Wall Street has plummeted to the lowest level in five years amid growing fears the Federal Reserve will trigger a deep downturn with its war on inflation.
There is a "dire level" of pessimism among fund managers, according to a new Bank of America survey, which painted a bleak picture of sentiment on Wall Street.
Bank of America updated its economic forecast to say the U.S. could experience a "mild recession" as soon as this year. Here's what that means for interest rates.
Bank of America's second quarter profit fell to $6.2 billion, or 73 cents per diluted share, compared to $9.2 billion, or $1.03 per share, during the same period a year ago.
Bank of America strategists said that sky-high inflation could take some time to come down – forcing the Fed to raise rates so aggressively the economy slides into a recession.
Wells Fargo, Bank of America, Goldman Sachs and Morgan Stanley increased their dividends on Monday after they cleared the Fed's annual stress test exercise last week.
The U.S. economy could slide into a recession next year, according to Bank of America strategists, as the Federal Reserve ramps up its inflation battle with more rate hikes.
A majority of investment fund managers are forecasting sluggish growth and soaring inflation, the result of the Federal Reserve raising interest rates at the fast pace in decades.
The move, which brings the bank a step closer to fulfilling its pledge of paying $25 per hour by 2025, will increase the annualized salary for full-time employees to more than $45,000.
The note comes just one day after the Labor Department reported inflation surged higher than expected in April, with prices rising 8.3%, close to a 40-year high.
The S&P 500 just suffered its worst April performance since 1970, plunging into its second correction of the year — now, many experts are lowering their projection for the index this year.