Today, Bank of America Co. (NYSE: BAC) reports its latest earnings results, giving everyone an inside look at the current trends in the consumer sector and even some of the capital shifts between bonds and stocks and other asset classes like commodities. Here’s the beginning of where to ...
Bank of America's analysts found that spending on other discretionary sectors like restaurants, airlines, and hotels has remained steadier. American consumers remain cautious about making "big ticket" purchases like appliances, electronics, and home improvement projects, Bank of America analysts wrot...
U.S. consumers and businesses alike have turned cautious about spending this year because of elevated inflation and interest rates, according toBank of AmericaCEOBrian Moynihan. Whether it's households or small- to medium-sized businesses, Bank of America cli...
recession is no longer in the works, according to Bank of America CEO Brian Moynihan. The nation's second-largest bank is not predicting an economic downturn "anymore," Moynihan told CBS' Margaret Brennan on "Face the Nation" Sunday. "Last year, this time, it was a recession," he ...
Bank of America's Consumer Spending Survey collected data on annual credit card charges in seven different categories of expenditures: transportation, groceries, dining out, household expenses, home furnishings, apparel, and entertainment. Using data from...
Bank of America Institute released new analysis today which shows that, while 2022 was a solid year for consumer spending, the New Year brings with it cross-currents for U.S. consumers, including a potentially weaker job market and easing inflation press
MOYNIHAN: If you look in the spending data for our consumers, you have to put a little bit into historical context. So at Bank of America, we have the honor of serving 60 million U.S. consumers. And we see what goes in and out of their...
Bank of America Institute released new analysis today which shows signs of a strengthening in consumer spending at the start of 2023. BofA credit and debit card spending per household rose 5.1% year-over-year (YoY) in January, compared to 2.2% YoY in Dec
CEO OF BANK OF AMERICA: It's great to be here again. Margaret, good to see you.MARGARET BRENNAN: Good to see you. And this is a week where we had a lot of turbulence in the financial markets and some jitters here. We know that both presidential campaigns in the coming days...
Bank of America Corp's second-quarter earnings nearly tripled as it released loss reserves it had set aside last year, but its mainstay lending business took a hit from low interest rates put in place to revive a pandemic-hit economy.