Resilient Consumers Drive U.S. Growth, Says BofA Chief
TL;DR Summary
Bank of America CEO Brian Moynihan says resilient consumer spending is underpinning the U.S. economy, with Q2 spending up about 6% year over year and a forecast of at least 2% GDP growth this year despite affordability pain and inflation; events like the World Cup have boosted retail activity in host cities.
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- Lower-income wages catching up with fastest growth in 3 years in June USA Today
- Wall Street banks point to resilient US consumer as loan growth picks up Reuters
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