品牌价值网_中国品牌价值排行榜-Bank of America Predicted The Unemployment Rate in The United States Would Reach 5.5% in 2023
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Bank of America Predicted The Unemployment Rate in The United States Would Reach 5.5% in 2023

2022-10-28 14:24:23    来源:www.bvrcn.com 品牌价值网

On Friday, October 7, 2022, Bank of America released a report showing that the unemployment rate in the United States is expected to reach 5.5% in 2023.  The report also says the United States will cut 175,000 jobs per month from January to March, 2023.  In short, Americans should get ready to brace for a recession. 


As of today, Bank of America Corporation is the largest commercial bank in the United States in terms of assets. Bank of America is often called one of the “Big Four Banks” of United States, which also include Citigroup, JPMorgan Chase& Co. and Wells Fargo. Found in 1868, it is headquartered in Charlotte, North Carolina. According to the News, Bank of America holds about 12% of all U.S. deposits, second only to JP Morgan Chase & Co. However, Bank of America is different from Bank of China in that it is not the central bank of America, therefore it cannot do things like issuing currency, conducting monetary policy or supervising and regulating other banking institutions. Of course, Bank of America has general banking functions, such as issuing credit cards, providing personal banking services and loan services, etc.

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Bank of America's history can be traced back to 1904 when Amadeo Giannini, an Italy American, founded the Bank of Italy in San Francisco to serve immigrants who were denied service from other banks. In 1906, an earthquake struck San Francisco and caused lots of damage. Fortunately, Giannini managed to get all the currencies out of the bank building, which was seen as a miracle. Therefore, a few days after the earthquake, Giannini was able to resume his banking services without any problems while other local banks were unable to open their vaults. By using a simple desk and two barrels, Giannini’s bank of Italy successfully accomplished lots of businesses and won plenty of customers. In the end, Giannini became a successful businessman. In 1922, Giannini purchased a new bank called Bank of America and Italy. In 1929, the two banks merged and it was called Bank of America. In 2008, in the middle of world financial crisis, Bank of America purchased Merrill Lynch in a $50 billion deal, which turned the big U.S. bank into a global financial-services powerhouse.


In 2010, Bank of America's entered Shanghai, China. Huang Xiaoguang, former President of Citibank (China), became the new CEO of Bank of America in China. Bank of America has branches in Hong Kong, Taipei, Beijing, Shanghai and Guangzhou and its Shanghai and Beijing branches have been approved to conduct RMB business.


According to Daguan·Brand Value (China) Network, Bank of America is a reliable bank with more than 100 years history. Therefore, its prediction of 5.5% jobless rate may become true. In October, 2022, Jamie Dimon, head and CEO of JP Morgan Chase, also made a statement that  United States would be in a recession "six, nine months from now.


On the ranking of “The 2nd Daguan·Keweiwei World Brand Value Top 900” released on January 13, 2022, Bank of America’s brand value was 388.564 billion RMB, ranking the 60th.

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作者:杨瑞安



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