Bank of America's Optimism Masks a Broader Reality The recent interview between Bank of America CEO Brian Moynihan and Margaret Brennan on "Face the Nation" has raised eyebrows due to its seemingly contradictory views on the state of the US economy.
On one hand, Moynihan claims that consumers are holding in, spending at a good clip despite rising prices, with wage growth coalescing around 3 to 4%.
On the other hand, he acknowledges elevated credit card delinquencies, which could indicate that people are unable to keep up with their cost of living.