Moynihan: U.S. Economy Bigger Than Fed, AI Boom Ahead

Bank of America CEO Brian Moynihan asserts that the U.S. economy is primarily driven by small businesses, big companies, and entrepreneurs, not the Federal Reserve. He believes the Feds rate cuts, including the recent quarter-point reduction, have minimal impact on the economy. Moynihan acknowledges the Feds role as a lender of last resort during crises but suggests that most people should barely notice its existence under normal circumstances. Looking ahead, analysts predict a GDP growth boost from AI investments, but inflation may limit the Feds rate cuts, potentially causing tension with President Trump. Checkout Solipillow.comThe Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.