Bank of America CEO Brian Moynihan predicted the economy could grow by 4% in 2022 and said that it's the Fed's 'job' to bring it back to pre-pandemic levels.
"For the U.S. economy for next year, that's normalizing the activity, which is important to stop this potential speculative aspects and things that go on when money is too loose," he noted.Amid looming policy changes, Moynihan said banks will serve as a "source of strength" for clients.
"We'll be around. The story changes, regulations change," Moynihan explained. "We adapt to them. It's what we in the industry have to do." "I think people have to remember, no matter what the debate is about incremental changes and things like that, the core banking system of the United States is a pillar of strength," he continued.
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