#inflation #recession #FederalReserve #yahoofinance
Bank of America CEO Brian Moynihan joins Yahoo Finance Live anchor Brian Sozzi from the 2023 World Economic Forum in Davos, Switzerland, to discuss recessionary pressures, inflation, the unemployment rate, the state of the consumer, and the outlook for the Fed.
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BREAKING: Recession News
LEARN MORE ABOUT: Bank Failures
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Bank of America’s CEO, Brian Moynihan, recently detailed his outlook on the economy, which includes his prediction of a mild recession ahead. He also discussed his views on the Federal Reserve’s recent interest rate cuts and how they may impact the bank’s business.
Moynihan believes that the U.S. economy will continue to grow, but at a slower pace than in recent years. He cites factors such as trade tensions and a slowing global economy as potential headwinds for growth. He predicts a mild recession in the next year or two but emphasized that this outlook does not mean a repeat of the 2008 financial crisis.
Moynihan’s comments come as the U.S. Treasury yield curve has inverted, a signal often seen as a warning sign of an impending recession. However, Moynihan noted that an inverted yield curve does not predict the timing or severity of a recession.
Regarding the Federal Reserve’s recent interest rate cuts, Moynihan believes they will have a positive impact on Bank of America’s business. Lower interest rates can encourage borrowing and investment, which can benefit banks. However, Moynihan also noted that the impact of the rate cuts may take some time to fully materialize.
Moynihan also touched on the topic of technology and innovation in banking. He discussed how Bank of America is leveraging technologies such as artificial intelligence and robotics to improve the customer experience and increase efficiency. He emphasized the importance of being able to adapt to changing technologies and consumer behaviors.
Overall, Moynihan’s outlook on the economy and his thoughts on the impact of the Federal Reserve’s rate cuts provide insight into how Bank of America is navigating the current economic landscape.
The way I see it this recession most likely has an external cause. The United States is losing influence as a federal currency for the first time in decades. They don't have any more economies to utilize to control their inflation, and less money is being spent on stock and oil trading than previously. They all lend credence to the hypothesis that a new multilateral world order may be in the works.
I got out my clients out of the markets 18 months ago and switched them into senior secured, asset backed corporate bonds. The one-year option pays 10% fixed, 2-year terms pay 11%, and 3-year terms pay 12%. Client´s money is segregated and held in custody with Pershing. (43 trillion under administration).
Bank of America is one of the OWNERS of Zelle. This looks like a bail-in test. Get your money out NOW!
Hmmmm
the World Economic Forum's ESG standards will be the Death of ALL free markets. if the ccp and wef arent forced into a tall tale, ALL of our liberties WILL die. EVERY corporation adopting polices from the wef and ccp need to be jailed for treason.
It will be a mild recession because the FED will drop rates and maybe even resume QE in 23'. If the FED doesn't, then a depression is guaranteed.
Sea< Roaring Twenties 1920s = 1929 =Banks gov $ no way "Ask Not What Your Country Can Do For You ask usa America feds
I think that a recession/ hard landing is very likely that could shock the market. I do not believe this means investors should wait or time the market, but rather proceed with caution and invest into the positions that will see through a recession.
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Nice one
until real estate prices go down 20% , inflation will not be under control.
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Once SHTF there's NO recovery where's the money for recovery ?
PSAVERT is near 2.0! STOP SAYING CONSUMER BALANCE SHEETS ARE HEALTHY.
❤
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in the US.
thanks for the purple tie
Awesome Video. I was at a retirement seminar and the speaker spoke on how he quit his job after he made well over $950,000 PROFIT within 3months he invested $120,000. I just began investing and i will really appreciate any tips or helpful guide.
spending the excess stimulus…. are you effing kidding me, these guys think 1500 bucks from two years ago didn't just go to buy a dozen eggs…. unbelievable… of course spending is up its called inflation
4:02 are some scary words to say
You guys hear that ESG toward the end. Wth is the bank doing telling the government about our purchases