JUST IN: 🇺🇸 Federal Reserve's Bostic says he would hold off on cutting rates for now. ...

Let's bring in former deputy Treasury Secretary Everore founder and senior chairman Roger Alman. What do you make of all this, Roger. Hi, Sarah.How are you. I'm good. I mean, my head's spinning a little bit, but I I'm think it's a big bre I think a big breath of sigh of relief was felt here when President Trump said, "I'm not planning to do that. I'm not doing that." You know, whether President Trump really intended to do it in the first place seems to me dubious, but stepping back, there are a lot of reall ...

You decide that you are going to fire him. Have you drafted a letter. I haven't drafted a letter. So, you didn't show a letter to Republican lawmakers last night.No. I talked about the concept of firing. I said, "What do you think?" Almost every one of them said I should, but uh I'm more conservative than they are.Mr. . Are you completely ruling out the idea of firing Jerome Powell. I I don't rule out anything, but I think it's highly unlikely.Fortunately, we get to make a change in the next what, eight mon ...

Financial Performance & Guidance - Bank of America maintained its net interest income (NII) guidance despite better-than-expected loan growth and fewer expected rate cuts [1] - Bank of America's net interest income (NII) reached $148 billion in the current quarter [3] - Bank of America projects net interest income (NII) to be between $155 billion and $157 billion by the fourth quarter [3] - Bank of America anticipates a 6-7% increase in net interest income (NII) this year compared to last year, with momentum carrying into 2026 [5] Growth Drivers - Bank of America experienced 7% loan growth and 4% deposit growth over the last 12 months [4] - Bank of America emphasizes disciplined deposit and loan pricing as contributing factors to net interest income (NII) growth [4] Macroeconomic Perspective - An independent Federal Reserve (Fed) is crucial for the stability of the global economy, particularly for a large economy like the United States with over $30 trillion in debt [8][9] - A stable central bank is very important because of the size of the US economy [8]

Although interest rates and unemployment have an indirectly inverse relationship, that relationship can be clouded by broader factors in the labor market. https://t.co/8VWJE1g9f5 ...

🇺🇸 UPDATE: Trump says he has no plans to fire Jerome Powell but calls him a “terrible Fed chair” and criticizes high interest rates and Fed spending. https://t.co/Zulpzsiuic ...

seriously to take this possibility, we'll let you go for now. But obviously do come back if you hear anything further. We appreciate it.>> Thanks, Kelly. >> Steve Liesman. So what should we make of the market's reaction to these headlines.We got the trial balloon, gave us maybe a little bit of a glimpse of what they think about it all. Let's bring in former Dallas Fed president Richard Fisher Bleakley advisory CIO Peter Boockvar and Zoe Financial CEO Andres Garcia. Amaya, who's here on set with me.Richard F ...

Breaking news out of the Oval Office. We may be on the verge of a huge shakeup for the American economy. NBC News is reporting that last night, President Trump told a room full of lawmakers that he will soon fire fire the chairman of the Federal Reserve, Jerome Powell.That's according to a senior White House official. Now, one Republican Congresswoman, Anna Paulina Luna, tweeted just a short time ago about this, that Powell's firing was quote imminent. But then just moments ago when asked if he was going to ...

Do you have plans uh or if you're back considering firing Jerome Powell. Um and what's your justification if if you're thinking about this to do this. Too late. He's always been too late, hence his nickname, too late.Uh he should have cut interest rates a long time ago. The country's become so successful that it doesn't have a big impact. But it does hurt people wanting to get a mortgage. Uh people want to buy a house.He's a terrible he's a terrible Fed chair. I was surprised he was appointed. I was surpris ...

Core Insights - Bank of America Corp. reported second-quarter fiscal 2025 results that largely surpassed expectations, with earnings per share aligning with consensus estimates [1][3] - The bank demonstrated resilience through stronger core fees and stable operating efficiency, despite a slight decrease in net interest income (NII) [1][3] - Investors are focused on the bank's NII outlook for the latter half of 2025, along with operating leverage and trading revenue performance [1][10] Financial Performance - The reported EPS was 89 cents, matching both consensus estimates and Goldman Sachs' projection [3] - Core pre-provision net revenue (PPNR) was $9.5 billion, in line with expectations, supported by stronger core fees [3][6] - Fee income exceeded consensus by 0.5%, driven by a 15% year-over-year increase in trading revenue [6] NII Guidance - NII guidance remains at $15.5 to $15.7 billion for the fourth quarter of fiscal 2025, factoring in fewer rate cuts than previously assumed [4] - Anticipated NII improvement in the second half of 2025, with asset repricing expected to increase from $100 million in Q2 to $225 million per quarter in Q3 and Q4 [4][5] Loan and Deposit Growth - Loan growth guidance was revised upward from low to mid-single digits, with deposits 1% above expectations [5] - Loans grew 1% sequentially, with commercial lending up 5% and consumer lending up 1% [5] Efficiency and Expenses - The core efficiency ratio was 64.5%, slightly worse than consensus, with core expenses of $17.2 billion, up 5% year-over-year [7] - The analyst seeks clarification on the validity of the full-year expense guidance [7] Credit Quality - Provisions were 2% below expectations, with a $67 million reserve build aligning with forecasts [8] - Net charge-offs increased 5% quarter-over-quarter, coming in 1% above consensus, but no significant credit quality deterioration was observed [8] Capital Return - Bank of America repurchased $5.3 billion in stock during the quarter, with a CET1 ratio of 11.5%, remaining above the regulatory minimum [9] - Further details are sought on capital deployment plans amidst potential changes to capital requirements [9]