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Bank of America (BAC) has projected that the United States will avoid a recession in 2025 and does not anticipate any Federal Reserve interest rate cuts during the year. The bank cites strong consumer spending and persistent goods inflation as indicators of continued economic resilience. This outlook contrasts with some market expectations for rate reductions. Bank of America's assessment was reiterated in multiple reports throughout July 2025, emphasizing confidence in the U.S. economy's stability and the Federal Reserve's monetary policy stance under Chairman Jerome Powell.