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Bloomberg Wall Street Week April 21st, 2023

Wall Street Week

CHAPTER

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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