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Bloomberg Wall Street Week April 21st, 2023
Wall Street Week
The End of the Spur in Consumer Spending
The American economy is in good shape, he says. But banks are at an inherent disadvantage on their business model because they're funding by demand deposits and people can pull whenever they want. "It's just a matter of the ebbs and flows of the rate environment will change the profitability," Bank of America chief says.
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