Face the Nation with Margaret Brennan Brian Moynihan [Extended Interview]
Dec 29, 2025
Brian Moynihan, Chairman and CEO of Bank of America, shares insights into the current economic landscape. He highlights consumer spending growth despite low sentiment and discusses how income levels are influencing this trend. Moynihan also addresses potential risks such as geopolitical tensions and labor shortages impacting small businesses. He emphasizes the role of AI in banking, mentioning its cautious implementation for customer trust. Additionally, he advocates for financial education and child investment accounts, while reflecting on the Fed's influence on consumers.
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Spending Up Despite Low Sentiment
- Consumer spending rose about 4.25% over last year's November despite low sentiment.
- Wages are growing around 3% and credit quality remains good, supporting the economy.
Consumer Engagement Is The Key Risk
- The biggest near-term risk is a pullback in consumer spending which would slow growth.
- Geopolitical events and cyber shocks are secondary risks that could unsettle markets.
Trade Tensions Trending Toward De‑Escalation
- Bank of America sees tariff tensions easing toward a broad 15% level for many countries.
- China remains a special case due to national security and strategic supply-chain concerns.