Bank of America CEO Warns of Decreased Consumer and Business Spending Amidst Inflation and Interest Rate Concerns
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#b4bc08a9 ver:0.17

Bank of America CEO warns of decreased consumer and business spending due to inflation and interest rate concerns. Consumer spending growth has slowed from 10% to 3-4%, indicating potential burnout. Despite this, CEO remains optimistic about the US economy and its resilience. Bank of America emphasizes the strength of the banking system and its ability to weather challenges. Commercial real estate loans are described as a 'slow burn' with careful underwriting practices. Bank of America is focused on controlling expenses and meeting net interest income guidance. Overall, caution is advised in relying too heavily on consumers to prop up the economy amidst inflation and interest rate pressures. #economy #consumer #inflation #interestrates...

#newstr #BankOfAmerica #BrianMoynihan #ConsumerSpending #BusinessSpending #Inflation #InterestRates #CommercialRealEstate #BankingIndustry 

 https://here.news/story/b4bc08a9?ver=0.17