- Consumers are employed and still spending money, Moynihan says
- CEO warns of risks with proposed capital rules for big banks
Updated on
Bank of America Corp. Chief Executive Officer Brian Moynihan said the firm reversed its prediction for a recession in coming months because of strength in the jobs market and robust consumer spending.
“People are employed, they have money, they are spending money,” Moynihan said in a Bloomberg Television interview Thursday. “It looks like we are reaching a pretty good equilibrium.”
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Bank of America Reversed Recession Call on Strong Jobs and Spending, CEO Says
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