Bank of America Corp. Chief Executive Officer Brian Moynihan said the firm reversed its prediction for a recession in coming months because of strength in the jobs market and robust consumer spending.
“People are employed, they have money, they are spending money,” Moynihan said in a Bloomberg Television interview Thursday. “It looks like we are reaching a pretty good equilibrium.”
Read More: CEO of Bank of America Reverses Recession Call Citing Robust Jobs and Spending