Bank of America(US:BAC) 财富FORTUNE·2026-01-06 13:02Core Viewpoint - The CEO of Bank of America, Brian Moynihan, emphasizes that the U.S. economy is significantly larger than the Federal Reserve and should not be overly focused on by the public [2][3]. Group 1: Economic Perspective - Moynihan argues that the economy is driven by the private sector, including businesses of all sizes and entrepreneurs, rather than being solely dependent on the Federal Reserve's interest rate adjustments [3]. - He believes that the notion of the economy being heavily influenced by a 25 basis point change in interest rates is misguided [3]. Group 2: Federal Reserve's Role - Despite his views on the Fed's limited influence, Moynihan acknowledges the critical role the Federal Reserve plays as a lender of last resort during financial crises and extreme pressures, such as the COVID-19 pandemic [3]. - He suggests that outside of its role in crises, the Federal Reserve should ideally be less noticeable in the economy [4]. Group 3: Political Interference Concerns - Moynihan expresses concern about potential political interference in the Federal Reserve, especially with the possibility of a new chair under Donald Trump, who has been vocal about wanting more aggressive rate cuts [4]. - He notes that if the Federal Reserve loses its independence, it could lead to negative consequences for the market [4]. Group 4: Future Economic Outlook - According to Capital Economics, despite potential conflicts between Trump and his chosen successor regarding interest rate policies, the economy is expected to maintain a strong GDP growth rate of 2.5% in 2026 and 2027, driven by a surge in capital expenditures led by AI investments [5]. - The firm predicts that core inflation will remain above the 2% target for an extended period, leading to only a modest rate cut of 25 basis points by the Federal Reserve in 2026, which could create a standoff between the new chair and Trump [5].