BOFA: NO U.S. RECESSION OR FED RATE CUTS THIS YEAR Bank of America expects the U.S. to avoid a recession in 2025 and sees no Fed rate cuts this year, despite market hopes. Strong consumer spending and rising goods inflation show continued resilience, the bank says, noting June retail sales beat expectations. BofA warns against politically motivated rate cuts, arguing they could de-anchor inflation expectations and increase credit risk. Looking ahead, the bank expects a slight rise in jobless claims, stable housing data, and an 11% drop in durable goods orders on Friday.