flags fly outside 85 broad st the goldman sachs headquarters in new yorks financial district january 20 2010 reutersbrendan mcdermid new york june 17 reuters  bofa securities economists see roughly a 40 chance of a us recession next year with inflation remaining persistently high they expect us gross domestic product growth to slow to almost zero by the second half of next year as the lagged impact of tighter financial conditions cools the economy while they see just a modest rebound in growth in 2024 according to a research report friday our worst fears around the fed have been confirmed they fell way behind the curve and are now playing a dangerous game of catch up ethan harris global economist at bofas wrote adding that the firm expects the fed to hike interest rates to above 4 they see the risk of a recession for this year as low the fed on wednesday approved its largest interest rate increase in more than a quarter of a century to stem a surge in inflation the move raised the target federal funds rate by threequarters of a percentage point to a range of between 15 and 175 read more also bofa global economists lowered their global growth projections citing inflation the war in ukraine and covidrelated lockdowns in china they now expect global economic growth of 32 they said they had forecast 43 global growth going into 2022 they see further risks to 2022 growth if strict lockdowns continue in china and to 2023 growth if the us economy slips into recession the spike in energy prices amid the russiaukraine war has already sent inflation soaring across the world which in turn has forced central banks into a more hawkish stance the economists wrote on monday bank of america corps bacn chief financial officer alastair borthwick said that there is no sign of recession in the banks loan portfolio which remains on a healthy trajectory read more