Bank of America: It is expected that the Federal Reserve will not cut interest rates this year, and the US economy will not fall into recession

BlockBeats News: On July 21st, Bank of America predicted that despite market expectations for interest rate cuts, the US economy will avoid recession in 2025, and the Federal Reserve will not cut interest rates this year. The bank pointed out that strong consumer spending and rising commodity inflation indicate sustained economic resilience, and mentioned that retail sales data in June exceeded expectations. Bank of America warns that politically motivated interest rate cuts may undermine the stability of inflation expectations and increase credit risk. Looking ahead, the bank expects a slight increase in unemployment claims, stable housing data, and a possible 11% decline in durable goods orders announced on Friday.