Market Insider: A Deep Recession is Needed to Bring Down Soaring Inflation, and High Prices Are Going to Be Very Sticky, BofA Says
Article by Phil Rosen in Market Insider
Inflation has proven to be anything but transitory, and it's going to take a deep recession to tame the sticky high prices, according to Bank of America.
In a Friday note, the bank's analysts noted that market pricing implies that inflation will fall to or below the 2% target in about two years, but the economy will need to see a severe downturn to achieve that.
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