mo4ch:>‘Flashing yellow’: US facing 1 in 3 chance of recession within the year, says Bank of America | Mo4ch News

Bank of America has warned the US economy has nearly a one-in-three chance of being plunged into a recession within the year as the trade war with China heats up and interest rate tweaks fail to soothe a troubled market.Discarding an “official model” predicting “only” a one-in-five chance of economic doom within the coming year, Bank of America’s US economics head Michelle Meyer warned clients on Friday that the bank’s “subjective call based on the slew of data and events leads us to believe it is closer to a 1-in-3 chance.”Also on rt.comLatest wealth figures: Greed is winning & humanity is losingThe resurgence of the US-China trade war, whose latest victims – American farmers – have already been devastated by a growing season plagued by flooding and droughts, and a “global economic slowdown” have set several economic indicators “flashing yellow,” Meyer said in a note to clients on Friday. Auto sales, industrial production, and total hours worked – three of the five indicators the…