Bank of America CEO said he expects the Fed not to cut rates this year

Brian Mounehan, CEO of Bank of America, created new fees for Donald Trump, and how consumers interact with the management tariffs and bank’s expectations about interest rates.

The new procedure that unveiled the president on Wednesday will put a 25 % tariff on passengers, light trucks and some spare parts that were imported in the United States.

“I think the concept was not a surprise. It was in the campaign, it was talked about, but the reality is now coming, and therefore people began to make adjustments and try to know what everything means,” Mounehan said on Thursday on “CAMANTANTION.”

President Trump announces the tariff of new cars

“This is what you see is reflected in the market,” said Liz Kalaman.

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The CEO of the American American Brian Mynihan appears during a committee session on the second day of the World Economic Forum (WEF) in Davos, Switzerland, on January 18, 2023. (Stefan Wermeut / Bloomberg through Gety Emokires / Getty Em.

“When they think about it more widely, it may add a quarter of a percentage of inflation. Some growth may slow down in places like Japan because they are more to the United States, but in general, these things are absorbed over time.” “But until it is discovered, no one really knows this, and this is unprecedented water in terms of amounts, different pieces and such things.”

A car tariff is scheduled to enter into force early next week, which represents the last tax on the imports of other countries from Trump since he took office in January.

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President Donald Trump refers to the Women’s History Month event in Washington, DC, on Wednesday. (Reuters / Carlos Baria / Reuters)

“If we retract and talk about our team, given all the dialogue of the customs tariff and try its factors, the Bank of America’s research team … have growth in the United States, and positive growth by 2 %, and a half and a half in the first couple of the quarters and moved to 2 %, which is somewhat constructive.”

He also said that Bank of America does not see the federal reserve rates this year “because they believe that inflation was sticky, and it will remain sticky.”

The Federal Reserve leaves the main interest rates that have not changed amid uncertainty about the economy and inflation

The inflation measured by the consumer price index showed a 0.2 % increase per month and 2.8 % jump on an annual basis in February.

Bank of America still sees its customers spending money from Tuesday, according to Suven.

“The money that is transmitted from their accounts – not only on credit and discount cards, which slightly exceed 5 %, but in total – it is 5 % from the place where it was a march from 24 to 25 March, then in the first quarter, it is a similar amount, which is a little faster than it was in the fourth quarter.”

“So everything you hear about consumers stop spending, and we do not see it yet,” Mounehan said, noting that “Al -Bakhshar is good” for the American economy and will “go” in the future.

According to the bank of the American American Credit Card, food spending has risen to some prices. Spending on restaurants and entertainment was also positive.

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The bank of America’s logo is displayed on the side of a sub -office in San Francisco on January 20, 2010. (Justin Sullivan / Getty Emokires / Getty Emoz)

“Credit quality is good for consumers, and the main consumers in particular,” Mounehan said. “They have their own mortgage loan closed at a very low rate, despite the high prices and difficulties that cause the housing market. Cars are already slightly pressure because car rates are higher, so it will only add that, and we will see that.”

He said, “Really returns to” consumer work, noting that the current unemployment rate of the United States and the invitation of wage growth “is still relatively strong.”

The work statistics office linked the unemployment rate at 4.1 % in February.

He said, “This keeps them in good condition, and this will do this well because we are working during this period of uncertainty, as companies and others blow what all this means and how they adapt to it.”

Consumer feelings recorded a decrease of approximately 11 % in February, according to Michigan University surveying for consumers.

“The American consumer is interesting because they will say things and will do things,” Moinhan told Claman. “Although confidence was declining last month, they still spent this month. At the end of the day, as long as they work and we pay them more and a lack of rotation rates in companies, the labor market is not as narrow as it was, as you know, two years ago or a year ago … it is a strong environment.”

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He said that the definitions and “issues related to definitions and uncertainty” are more in small and medium -sized companies, size and large companies.

“But if you look at our medium -sized customers, the interesting thing is before the epidemic, they will borrow at a rate of about 40 % of the credit round numbers, which means that they will use the line on average 40 %. Now, they are about 3 or 4 % behind it,” said Moinhan.

He suggested that they are trying to make sure “they really have something to spend on” and that the definitions “just add another question.”

Moinhan said these clients “will be a little bit on the margin” until more clarification becomes available.