{"id":340,"date":"2026-06-03T20:44:28","date_gmt":"2026-06-03T20:44:28","guid":{"rendered":"https:\/\/coasttocoastmoverss.com\/?p=340"},"modified":"2026-06-03T20:44:28","modified_gmt":"2026-06-03T20:44:28","slug":"bank-of-america-ceo-moynihan-consumer-spending-still-resilient-despite-strains","status":"publish","type":"post","link":"https:\/\/coasttocoastmoverss.com\/?p=340","title":{"rendered":"Bank Of America CEO Moynihan: Consumer Spending Still Resilient Despite Strains"},"content":{"rendered":"<div>\n<p><strong>Crucial Quote<\/strong><\/p>\n<p><strong>\u201c<\/strong>With external factors like the war, gas prices are slowing down spending but then you have AI spending which is driving development and big business too,\u201d Moynihan said at the Forbes Iconoclast Summit.<\/p>\n<p>Read more <a href=\"https:\/\/coasttocoastmoverss.com\/?p=336\">Graham Platner\u2019s Betting Odds Fall In Maine Senate Race Amid Sexting Scandal<\/a><\/p>\n<p><strong>Key Background<\/strong><\/p>\n<p>The University of Michigan\u2019s Index of Consumer Sentiment came in at its lowest level ever in May. Consumers have expressed worry about rising inflation, gas prices, tariff pressure and stagnating wages. Bank of America has continued to project rising GDP growth and consumer spending for 2026 since last year. Under Moynihan\u2019s leadership, Bank of America has grown to a market capitalization of more than $360 billion and manages more than $2.4 trillion in assets\u2014claiming the position of the second-largest bank in America behind JPMorgan Chase. In 2025, Bank of America had a record-breaking year, with $30.5 billion in net income, and from Q1 this year, has already seen revenue growth of 7% year-over-year. The fifth annual Forbes Iconoclast summit brings together the world\u2019s most influential investors and financiers with over $20 trillion in total assets under management. This year\u2019s speakers include Moynihan, Bridgewater founder Ray Dalio, Carlyle CEO Harvey Schwartz  and new billionaire David Beckham.<\/p>\n<p>Read more <a href=\"https:\/\/coasttocoastmoverss.com\/?p=334\">LGBTQ Travel Company Queer Scout Says Scouting America Sued Over Trademarks Amid \u2018Political Pressure\u2019<\/a><\/p>\n<div><\/div>\n<p><strong>Further Reading<\/strong><\/p>\n<p><span><span>Forbes<\/span><span>Forbes 2026 America&#8217;s Best Banks List | Top Ranked and Rated<\/span><\/span><span><span>Forbes<\/span><span>Forbes Iconoclast 50:   These Mavericks Are Rethinking Philanthropy<\/span><small>By <span>Kirk Ogunrinde<\/span><\/small><\/span><span><\/span><span><span>Forbes<\/span><span>How A Chicago Accountant Quietly Built A Billion-Dollar Fortune Amassing Humdrum Businesses<\/span><small>By <span>Kirk Ogunrinde<\/span><\/small><\/span><span><\/span><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The CEO of the second-largest bank in the U.S. said at the Forbes Iconoclast Summit that consumer spending was still showing strength.<\/p>\n","protected":false},"author":1,"featured_media":339,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-340","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - 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