header banner
Default

According to the CEO of Bank of America, strong spending and jobs have reversed the recession call


  • Consumers are employed and still spending money, Moynihan says
  • CEO warns of risks with proposed capital rules for big banks

BofA CEO Moynihan Doesn't Expect US Recession

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.”

Up Next

Bank of America Reversed Recession Call on Strong Jobs and Spending, CEO Says

Sources


Article information

Author: Wanda Brooks

Last Updated: 1702257722

Views: 886

Rating: 4.6 / 5 (41 voted)

Reviews: 98% of readers found this page helpful

Author information

Name: Wanda Brooks

Birthday: 1972-09-02

Address: 69138 Joe Lights Suite 270, Port Marktown, OH 90301

Phone: +3944928512196396

Job: Paramedic

Hobby: Graphic Design, Orienteering, Painting, Golf, Bird Watching, Gardening, Mountain Climbing

Introduction: My name is Wanda Brooks, I am a brilliant, intrepid, rare, candid, resolved, welcoming, important person who loves writing and wants to share my knowledge and understanding with you.