Bank of America Chairman and CEO Brian Moynihan testifies before a Senate Banking, Housing, and Urban Affairs hearing on “Annual Oversight of the Nation’s Largest Banks”, on Capitol Hill in Washington, U.S., September 22, 2022. REUTERS/Evelyn Hockstein/ File Photo
Bank of America (BAC.N) CEO Brian Moynihan said on Wednesday he expects a soft landing for the U.S. economy as consumer spending and commercial borrowing slow.
“Our research team is the best in the business and they have moved to the soft landing category. They have a slowdown in the economy in the middle of next year,” Moynihan said in an interview at the Reuters NEXT conference.
Reporting by Lananh Nguyen in New York, Writing by Niket Nishant in Bengaluru; Editing by Chizu Nomiyama
