Reported 2 months ago
Bank of America CEO Brian Moynihan expressed concern that U.S. consumers may become discouraged if the Federal Reserve does not start lowering interest rates soon. He noted that the Fed has maintained rates between 5.25%-5.50% for over a year but hinted that potential cuts could be on the table if inflation continues to decrease. Moynihan warned that prolonged high rates could lead to a negative consumer sentiment, making it difficult to revive confidence.
Source: YAHOO