Bank of America CEO Brian Moynihan said that a 'shallow' recession was likely coming in 2023, despite other bank executives warning about high inflation.
Bank of America CEO Brian Moynihan discusses the pace of the economy as the Fed fights to get inflation under control on 'Cavuto: Coast to Coast.'
Bank of America CEO Brian Moynihan said that a "shallow" recession is likely coming in 2023, despite other bank bosses warning that high inflation would sink the economy. ‘Cavuto: Coast to Coast’"We've got to get inflation under control, and that's what the Fed's trying to do. And so you're seeing the most interest rate-sensitive parts of the economy take the hit first.
"They're going to raise rates," he said, and those rate hikes may last for "longer than people think."
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