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Bank of America's CEO Says There Won't Be a Recession. Time To Buy the Stock?

Bank of America's CEO Says There Won't Be a Recession. Time To Buy the Stock?

Arguably, no stock trading sector is more sensitive to the economic cycle than the banking sector. The general consensus earlier this year was decidedly toward a definite downturn. Speaking at the Economic Club of New York last week, Bank of America's (NYSE: BAC) Brian Moynihan said bluntly, "We won't have a recession."