Bank of America CEO Brian Moynihan Warns of Consumer and Business Spending Slowdown
Bank of America CEO Brian Moynihan has expressed concerns over a significant slowdown in consumer and small business spending in the United States. According to Moynihan, this cautious behavior is driven by elevated inflation and interest rates. He shared these insights in an interview with CNBC. Moynihan compared the current economic environment to 2016, a period characterized by very low growth. The slowdown has been observed over the past year, indicating a broader trend of economic caution.
Sources
MarketWatch
Bank of America's Brian Moynihan worries about a consumer-spending slowdown https://t.co/XWzzCqN9gy
FORTUNE Bank of America 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." https://t.co/eRaIOqltIK
Cheddar Bank of America CEO Brian Moynihan told CNBC the bank has seen a sharp slowdown in consumer and small business spending in the past year. https://t.co/T44F6ZrC2Q
