U.S. buyer shelling out observing a ‘mitigation’ in progress not a slowdown, suggests Bank of America CEO

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“You’re observing a mitigation of the price of development, not a slowdown. Not damaging development,” Brian Moynihan advised CNBC.
Shoppers nonetheless have robust credit, unemployment is reduced, wage progress is potent and businesses are still in superior shape, he reported, while there are recessionary dangers.
The Fed will get the resources rate to close to 5% and then “let it work,” Moynihan stated.

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