Bank of America CEO Moynihan Sees GDP Outlook Improving, Consumer Spending Holding Up at BAC Conference

2026-03-06 06:36:49

Bank of America CEO Brian Moynihan believes the U.S. economic outlook is improving, with the bank forecasting 2.8% GDP growth for 2026 and consumer spending up 5% year-over-year in January, supported by a strong labor market. Moynihan also outlined strategic targets for the bank, including 16%-18% return on tangible common equity (ROTCE) and 5%-7% net interest income growth, while discussing regulatory normalization and the bank’s efforts to enhance consumer affordability.

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