Exclusive: Bank of America CEO bullish on economy powered by spending
Affordability pain is real, but resilient consumers are still infusing money into the economy, Brian Moynihan, CEO of Bank of America, said at the Axios House News Shapers summit in Washington, D.C.Why it matters: The U.S. economy sits on a remarkably durable foundation, supporting consumer spending even with hot inflation.
Reported by 1 outlet — Axios. See all sources ↓
Affordability pain is real, but resilient consumers are still infusing money into the economy, Brian Moynihan, CEO of Bank of America, said at the Axios House News Shapers summit in Washington, D.C.Why it matters: The U.S. economy sits on a remarkably durable foundation, supporting consumer spending even with hot inflation. But at the same time, Americans tell pollsters economic conditions is at rock bottom, fueling a political reckoning over affordability."There's a say-do paradox," Moynihan said. "The question is, what are people actually doing?"Driving the news: Two things can be true, Moynihan explained to Axios' Mike Allen."Affordability is a real issue," he said.
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- Affordability pain is real, but resilient consumers are still infusing money into the economy, Brian Moynihan, CEO of Bank of America, said at the Axios House News Shapers summit in Washington, D.C.Why it matters: The U.S. economy sits on a remarkably durable foundation, supporting consumer spending even with hot inflation.
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- 1 outlet, average source rating 7.0/10.
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Exclusive: Bank of America CEO bullish on economy powered by spending
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