bank of america

The market is expected to raise interest rates twice in the second half of the year, but Brian Moynihan, chief executive of Bank of America, sings a reversal and does not believe the Fed will cut interest rates this year. 

In an interview with Fox Business Network, Moynihan pointed out that the continued strong consumer confidence and business confidence in the United States, overwhelming the economic recession signal of the yield curve, makes it unlikely that interest rates will be cut this year. Even if the recent slowdown in corporate capital expenditures is in line with the state of maintaining a healthy economy, there is no impact now, and the economy is considered to be stronger than people think. It is expected that the Fed will not lower interest rates this year. 

However, the Fed has successively issued dovish speeches. Chairman Powell said earlier that because he does not know how or when the Sino-US trade war will be resolved, he will closely monitor the situation and the impact on the US economic outlook, and take appropriate measures to maintain economic expansion when necessary. The remarks were interpreted by the market as “open to interest rate cuts when necessary.” 

As for the St. Louis Federal Reserve Bank President Brad, who has the right to vote at the meeting, he has publicly expressed his support for interest rate cuts on Monday (3rd).

Sign Up for Our Newsletters

Get notified of important news and special executive deals.

You May Also Like

Former US Treasury Secretary Summers criticized China’s exchange rate manipulation of the wrong country

The US government has announced that China is listed as a currency…

China filed a investigation on FedEx’s CCB package for the US event CCTV: This is a warning

As the China-US trade war continued, China’s telecommunications equipment supplier Huawei had…

U.S. Treasury plans to increase total debt in the third quarter to $443 billion

The U.S. Treasury Department said it expects total bond issuance in the…

US HSBC replacement CEO is expected to accelerate business recovery

HSBC announced that HSBC Chief Executive Patrick Burke will retire later this…