US economy seeing a ‘mitigation’ in growth not a slowdown, says Bank of America CEO
Written by Black Hot Fire Network on October 28, 2022
The U.S. economy is experiencing a "mitigation of growth" but not a slowdown, Bank of America CEO Brian Moynihan said Friday.
Interest rate hikes by the Federal Reserve are starting to be felt in the housing and auto markets, and renters will see their budgets squeezed as landlords pass on higher costs, he told CNBC's "Squawk Box Europe." But he stressed that consumer spending remains strong.
"If you raise . . .
