Bloomberg Talks
Brian Moynihan Talks Interest Rates and the American Consumer
May 13, 2024
Bank of America CEO Brian Moynihan discusses interest rates, consumer confidence, and investing in France with Bloomberg's Jon Ferro. They explore the impact of interest rate adjustments on mortgages and corporate borrowing, consumer lending practices, and the resilience of the American economy. The conversation also delves into business debt issuance trends and the importance of mergers & acquisitions for economic growth.
11:33
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Quick takeaways
- France revamped its business environment to attract foreign investment by lowering tax rates and focusing on talent acquisition.
- American consumers display resilience with increased spending patterns driven by wage growth, amidst concerns about higher interest rates.
Deep dives
France's Business Attraction Strategy
France's efforts to attract business investment have involved reshaping its reputation and implementing changes to facilitate economic development. By lowering tax rates, adapting work rules, and focusing on talent acquisition, France has transformed its business environment. The country's strategy includes appealing to companies looking to expand operations and compete with other global markets, marking a significant shift from its prior reputation.
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