Bank of America CEO Brian Moynihan on interest rates

Economic Overview - The unemployment rate is in the low fours, indicating near full employment [1] - Inflation remains elevated but is trending downward [1] - Small to medium-sized businesses are experiencing economic strain due to floating rate lines of credit [1] - Commercial clients are hesitant due to global uncertainties [1] Consumer Spending - Consumers are continuing to spend [2] - Bank of America consumers' spending is up by 4% to 5% this quarter compared to the second quarter of last year [3] - Consumers have money in their accounts, and credit quality is generally good [3] Future Outlook - Tax bill and trade policy are important factors for future growth [2] - Immigration policy is also a key consideration [2] - Clarity in these areas will likely stimulate further economic growth [2]