Transcript: Bank of America Chairman and CEO Brian Moynihan on "Face the Nation with Margaret Brennan," Dec. 28, 2025
CBS News • • business
Key Points:
- Bank of America CEO Brian Moynihan reports solid consumer spending growth across all income levels despite inflation concerns, with wages growing about 3% and unemployment remaining low at around 4.6%.
- Moynihan identifies consumer spending as the biggest risk to the U.S. economy's forecasted 2.4% growth in 2026, alongside geopolitical risks such as wars and cyber events.
- Moynihan sees a de-escalation in trade tensions and tariffs, noting improvement in clarity for small businesses, whose main current challenge is labor availability due to unsettled immigration policies.
- Bank of America is actively integrating AI technologies like the Erica virtual assistant to improve customer service and operational efficiency, while Moynihan emphasizes AI as a tool
