As rumors spread about Secretary of the Treasury Janet Yellen's departure, Brain Moynihan, the CEO of Bank of America is considered a potential replacement.
US Treasury Secretary Janet Yellen made an appearance on CBS'"The Late Show with Stephen Colbert" on Wednesday, Nov. 30, 2022, where she spoke about the U.S. economy, inflation, and other world news.
But Moynihan has clearly increased his public profile as part of an effort by his handlers to tout him for a possible senior government position, such as Treasury Secretary, according to senior Wall Street executives. Over the past two months, Moynihan attended the United Nation’s climate change conference; met with King Charles andattended a White House dinner for French President Emmanuel Macron, and appeared at President Biden’s reception for Kennedy Center honorees.
"He’s definitely now on the short list for Treasury Secretary," said one senior Wall Street executive with knowledge of the Biden’s Administration’s thinking. "It’s likely either he or Raimondo if Yellen decides to step away." U.S. Secretary of Commerce Gina Raimondo speaks during an address at Brown University, March 15, 2022, in Providence, R.I.
Moynihan has been CEO of the Bank of America since 2010. With $2.4 trillion in assets, Bank of America is the nation’s
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