The US economy officially ended its V-shaped transition and entered its third and final phase of recovery, Bank of America economists said Friday. High-frequency economic data suggests the rapid bounce ended in June and gave way to a "healing phase" as reopenings boosted spending and hiring activity, the team led by Michelle Meyer wrote in a note. The third recovery phase will be "one of slower growth, likely in fits and starts," and will be "defined by the path of the virus," they...
Continue Reading The US officially ended its V-shaped recovery and has entered a slower 'healing phase,' Bank of America says