The CEO of Bank of America: The Federal Reserve should cut interest rates as soon as possible, as the inflation rate has already declined.
According to ChainCatcher news, Bank of America CEO Brian Moynihan stated in an interview that as the economy slows down and consumers tighten their spending, the Federal Reserve should cut interest rates as soon as possible. Brian Moynihan said: "The economy is slowing down, so we have to be careful because we have already won the battle against inflation, and the inflation rate has come down." The executive stated that Bank of America's analysts do not predict a recession this year. Brian Moynihan added: "They are telling people that interest rates may not rise, but if they don't start cutting them relatively quickly, it could undermine the confidence of American consumers."
