Bank of America CEO: The Federal Reserve should cut interest rates as soon as possible, the inflation rate has already fallen
In an interview, Brian Moynihan, CEO of Bank of America, stated that the Federal Reserve should cut interest rates as soon as possible due to economic slowdown and consumer spending tightening. Brian Moynihan said: The economy is slowing down, so we must be careful because we have already achieved victory in curbing inflation and the inflation rate has dropped. Although it hasn't dropped to the level people hope for, we must be careful not to try too hard to be perfect and lead us into a recession. This executive stated that Bank of America's analysts do not predict a recession this year. Brian Moynihan added: They tell people that interest rates may not rise, but if they don't start cutting rates relatively quickly, it could hit American consumers' confidence.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
OpenAI plans to release the "Strawberry" model within the next two weeks
Saudi Arabia will develop an athlete digital ID platform