Brian Moynihan, CEO of Bank of America, said higher inflation and interest rates have dampened consumer and business spending this year. From hardware to software, both consumers and small to medium-sized businesses are pulling back on their purchases, Moynihan said at a New York financial...
Bank of America’s CEO says consumer spending is still healthy despite steep interest rates. Spending has risen between 3% and 4% this month compared to a year ago, Brian Moynihan said in an interview with Bloomberg News Monday (May 13). He added that uptick is indicative of a slower-growth, lower-inflation...
Bank of America’s first quarter results took note of continued use of digital channels in banking — and for payments, too. The bank recorded 3.4 billion digital logins; digital sales represented 50% of total sales, the company noted in its earnings supplementals on Tuesday (April...
Bank of America CEO Brian Moynihan said Tuesday (Dec. 5) that there are signs of the economy slowing down but expressed optimism that it will experience a soft landing rather than a recession. Money is coming out of customer accounts and consumer spending has “leveled out,” which he...
August 11, 2024
American consumers could become disheartened if the Federal Reserve doesn’t cut interest rates soon. That’s according to Bank of America CEO Brian Moynihan, who made that prediction in an interview with CBS News Sunday (Aug. 11), after the Federal Reserve said it would keep its rate at a range of 5.25%-5.5%. However, the central bank […]
May 30, 2024
Brian Moynihan, CEO of Bank of America, said higher inflation and interest rates have dampened consumer and business spending this year. From hardware to software, both consumers and small to...
May 14, 2024
Bank of America’s CEO says consumer spending is still healthy despite steep interest rates. Spending has risen between 3% and 4% this month compared to a year ago, Brian Moynihan said in an interview with...
December 05, 2023
Bank of America CEO Brian Moynihan said Tuesday (Dec. 5) that there are signs of the economy slowing down but expressed optimism that it will experience a soft landing rather than a recession....
