All articles tagged with #moynihan
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.
Bank of America CEO Brian Moynihan states that AI is increasingly impacting the US economy, contributing to growth and efficiency, with the bank itself leveraging AI technology like its Erica bot to improve services. He predicts a strong economic outlook for the US and sees limited risks from AI industry overheating, emphasizing the sector's narrow scope and the bank's cautious approach to AI investments.