Bank of America

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.

Bank of America CEO Brian Moynihan revealed whether he believes a recession in the United States is imminent.

Bank of America Corp reported a fall in first-quarter profit on Monday, as a slowdown in global deal making weighed on its investment banking businesses.

Bank of America CEO Brian Moynihan argued geopolitical events and supply chain issues are creating "additional uncertainty," but notes that overall the U.S. economy is strong based on consumer spending, low unemployment and wage growth.

Bank of America economists expect the Federal Reserve to hike interest rates at every meeting for the remainder of the year as central bank policymakers look to tackle inflation.

Bank of America CEO Brian Moynihan predicted the economy could grow by 4% in 2022 and said that it's the Fed's "job" to bring it back to pre-pandemic levels.

Amid increased scrutiny from the CFPB towards banks' overdraft fees, Bank of America announced it is reducing these consumer charges.

Bank of America is joining JPMorgan and Capital One in cutting overdraft fees.

New York City Mayor Eric Adams scolded big banks for sending their Big Apple-based employees back to remote work amid the spread of the highly contagious omicron variant, asserting that the financial powerhouses "can't run New York City from home."