Bank of America CEO Brian Moynihan says the bank projects the initial shocks of President Trump's tariffs are "starting to de-escalate" with average tariffs settling around 15%, but China remains "a very different story." "China's a different question," Moynihan explained. "Because the national security interests, the rare earth minerals, the magnets, batteries, just AI, all that stuff." He added that "broadly in the world, you can see sort of the end point here, and now, it’s got to work throug
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CEO of major bank warns stock market will punish Americans if Federal Reserve isn't independent
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When asked if he has any concerns of political interference with the Federal Reserve once President Trump selects its next chairman, Bank of America CEO Brian Moynihan says: “The market will punish people if we don't have an independent Fed. And everybody knows that.” Moynihan argues “there’s too much fascination with the Fed,” telling @margbrennan, “The idea that we are hanging on a thread by the Fed moving rates 25 basis points, it seems to me we've gotten out of whack.” | CBS News
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Bank of America Chairman and CEO Brian Moynihan said that as President Trump searches for a new chair of the Federal Reserve to replace Jerome Powell, maintaining the banking system's independence is paramount. The market "will punish people if we don't have an independent Fed," Moynihan said. “And everybody knows that." The Federal Reserve is the nation's central bank and sets the interest rates. Throughout this year, Trump has repeatedly expressed his displeasure with Powell, whose term is set
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The Trump Accounts program, a tax-deferred investment vehicle for American children, is “a good thing,” says Bank of America CEO Brian Moynihan, calling it a “great product.” He says it’s “wonderful that people are stepping up and contributing to it,” but notes it is “a little more complex” for private companies to contribute to the program. “I think we'll figure out how to participate and make it happen,” Moynihan tells Margaret Brennan. | Face The Nation
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Bank of America CEO Brian Moynihan says small business owners have concerns about the Trump administration’s immigration policies, not because “they agree with them or disagree with them,” but rather the “policies haven't settled in yet.” “What they tell us is labor availability. How they get there is, ‘I need people to do this work, and I need to be dependable they're here. So, give me a set of rules, and I'll go play with them. But I need to be clarified of what the rules are,’” Moynihan expla
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