Bank of America CEO Brian Moynihan was on CNBC talking about his bank and the economy. He warned the external shocks could hit the US economy but said that overall demand from clients was ‘solid’. He initially started to say ‘strong’ then corrected himself.
He outlined an outlook where US growth sags to below 2% for a quarter or two and then re-accelerates above it.
Moynihan wasn’t overly enthusiastic but he certainly didn’t see anything worrisome and charge-off data released earlier today showed only a small-uptick.