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bank of america ceo predicts no interest rate cuts amid tariff concerns
Bank of America CEO Brian Moynihan anticipates no interest rate cuts this year, citing persistent inflation. He discussed the impact of President Trump's new 25% auto tariffs, predicting higher car prices and slower vehicle purchases, while noting that consumer spending remains strong despite declining sentiment. Moynihan emphasized that employment and wage growth are crucial for consumer confidence amid ongoing economic uncertainties.
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