The recession in the U.S. will begin in the second half of this year and will continue in the first quarter of 2024, warns Bank of America. The corresponding forecast voiced yesterday its chairman Brian Moynihan in a conversation with the television channel CBS, the agency "Prime". The bank also said late last year that the recession is likely to come this year.

According to the bank, the recession will be moderate. He expects the unemployment rate in the country to rise to 4%. The latter in the United States continues to rise, according to statistics released Friday for May, it was higher than expected, amounting to 3.7%. Analysts had expected it to be 3.5%. At the same time, the average hourly wage fell by 0.1 percentage points to 0.3% compared with April.

Major U.S. stock indexes reacted positively to the data on Friday, rising as much as 2.12%. The stats gave them confidence that the Federal Reserve will refrain from raising its key interest rate at the May meeting.