Name: BofA CEO Brian Moynihan says both consumers and businesses are ‘slowing things down’—in fact, they’re acting like it’s 2016, a period of ‘very low growth’
Uploaded: 2024-05-31T11:11:25-04:00
Duration: 5 min
Description: Consumers might be squeezed by inflation, but it seems their wallets aren’t tight enough to stop them spending on enjoying a good time. At least, that’s what Brian Moynihan is seeing from the data at Bank of America. But while shoppers are still splurging on experience spending, they’re consciously pulling back on more day-to-day purchases […]

Tag: Moynihan

BofA CEO Brian Moynihan says both consumers and businesses are ‘slowing things down’—in fact, they’re acting like it’s 2016, a period of ‘very low growth’

Consumers might be squeezed by inflation, but it seems their wallets aren’t tight enough to stop them spending on enjoying a good time. At least, that’s what Brian Moynihan is seeing from the data at Bank of America. But while shoppers are still splurging on experience spending, they’re consciously pulling back on more day-to-day purchases […]

Bank of America CEO Brian Moynihan explains why you’d better ‘get used to mortgage rates of six, seven percent’

American consumers are being pulled in opposite directions right now—by rising prices that threaten consumption on one side, and by low unemployment and rising wages that are fueling growth on the other. But Bank of America predicts that the two forces, with the help of a push from the Fed, will reach equilibrium in 2025. […]