BofA CEO explains inflation is shifting consumer spending

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Bank of America CEO Brian Moynihan discusses the bank's better-than-expected first quarter earnings and the state of the US consumer. Moynihan notes that US consumer activity is slowing down but not stopping, and that consumers are spending on discretionary purchases and necessary purchases at about the same levels as before the pandemic. He believes the Federal Reserve is winning the fight against inflation, but it will take time. Moynihan also explains why Bank of America's credit card business is seeing success.

#BankOfAmerica #Inflation #ConsumerSpending #UsConsumer #FederalReserve

https://finance.yahoo.com/video/bofa-ceo-explains-inflation-shifting-200706977.html