1 BofA Global Research, “U.S. Economic Weekly,” June 13, 2025.
2 The New York Times, “Fed’s preferred inflation gauge subdued in April as spending slows,” May 30, 2025.
3 2025 year-to-date data as of April 8, 2025. Includes >10% corrections in the S&P 500 from 1980-2024. Source: Bloomberg.
4 U.S. Department of the Treasury Fiscal Service, Federal Reserve Economic Data, Bloomberg. As of January 2025.
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