Bank of America CEO Brian Moynihan expects the U.S. economy to slow down in the middle of next year. The executive also noted that according to his bank’s research, the Federal Reserve will start cutting interest rates in the middle of next year to the latter half of next year. Bank of America Boss Brian Moynihan on U.S. Economy The chairman and CEO of Bank of America, Brian Moynihan, shared insights on the U.S. economy and the potential Federal Reserve interest rate cuts during an interview with Fox Business on Wednesday. Moynihan detailed that according to Bank of America’s research team: The economy slows down in the middle of ’24 to about a half-a-percent annualized growth for the second and third quarter, and then works its way back out. And the Fed will start cutting rates, they believe, in the middle of next year to the latter half of next year. “So that’s the basic thing, what would be called a soft landing,” he added. The Bank of America chief then cautioned that there ...
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