Bank of America CEO: Federal Reserve should cut interest rates as soon as possible, inflation rate has already decreased

According to BlockBeats, on August 13th, Brian Moynihan, CEO of Bank of America, stated in an interview that as the economy slows down and consumers tighten their spending, the Federal Reserve should cut interest rates as soon as possible. Brian Moynihan said, "The economy is slowing down, so we must be careful because we have already won a victory in curbing inflation, and the inflation rate has fallen. Although it has not yet fallen to the level people hope for, we must be careful not to try to do it too perfectly to lead us into a recession The executive stated that Bank of America analysts do not predict a recession this year. Brian Moynihan added, "They told people that interest rates may not rise, but if they don't start cutting rates relatively quickly, it could undermine the confidence of American consumers