U.S. could lose 175,000 jobs a month

The United States could be on the verge of losing tens of thousands of jobs. Bank of America warns the Federal Reserve's aggressive inflation-reducing policies could also slow the job market.

(CNN)— The United States could be on the verge of losing tens of thousands of jobs. Bank of America warns the Federal Reserve’s aggressive inflation-reducing policies could also slow the job market.

The company says the economy could start losing 175,000 jobs a month, throughout much of 2023.

Bank of America believes a recession will begin in the first half of next year with the unemployment rate climbing to 5.5%.  That’s 1% higher than what the Federal Reserve expects.

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