Bank of America CEO Brian Moynihan urges fed to cut interest rates in September

Face the Nation
Face the Nation
3,571
0
Published 2024-08-11
In a week with high turbulence in in the U.S. economy and jitters in the markets, Bank of America CEO Brian Moynihan urged the Federal Reserve to cut interest rates to ease pressure on American consumers. "They've got to be more careful than the downside of not starting to move down rates to restore a feeling that, you know, there's light at the end of the tunnel," he said in an interview on "Face the Nation with Margaret Brennan." "They've told people rates probably aren't going to go up, but if they don't start taking them down relatively soon, you could dispirit the American consumer."

"Face the Nation" is America's premier Sunday morning public affairs program. The broadcast is one of the longest-running news programs in the history of television, having debuted Nov. 7, 1954, on CBS. Every Sunday, "Face the Nation" moderator and CBS News senior foreign affairs correspondent Margaret Brennan welcomes leaders, newsmakers, and experts to a lively round table discussion of current events and the latest news.

Subscribe to the "Face the Nation" YouTube channel: youtube.com/facethenation/​
Watch full episodes of "Face the Nation": www.cbsnews.com/face-the-nation/full-episodes/
Follow "Face the Nation" on Instagram: instagram.com/facethenation/
Like "Face the Nation" on Facebook: facebook.com/FaceTheNation
Follow "Face the Nation" on Twitter: twitter.com/FaceTheNation
Subscribe to our newsletter: cbsnews.com/newsletter/
Download the CBS News app: cbsnews.com/mobile/
Try Paramount+ free: paramountplus.com/?ftag=PPM-05-10aeh8h

For video licensing inquiries, contact: [email protected]
All Comments (19)
  • @chri6393
    We need more millionaires telling us the danger of giving money to the poor. Tax him and we can pay down debt. Also drop rates
  • @deanfaklaris9987
    Interest rates aren't high. Inflation caused the issue and lowering rates without reducing govt spending (we are adding $1 trillion to debt every 100 days), inflation will come back and be even worse for the poor and working class.
  • @ajshaka3212
    Increase interest rates and decrease the money supply. Prices need to go back precovid
  • @stevenfigueroa886
    I met Brian Moynihan a few years ago with an organization called Greenlining. Met him actually a few times. We were in meetings on the bank's commitment to the Community Reinvestment Act and other issues. I'd like to say during this interview he was spot on. The way he explained the economy and his current state of the economy and the consumer. Great interview Brian
  • @mtmg3648
    Did we give out way too much $$$$ for people to stay home and not work for FAR TOO LONG for political purposes (Biden - we are talking to you!)? YES!
  • @SeekingAlfalfa
    BofA, is the new Wells Fargo. Good to see he's not wearing Pete Maravich floppy socks today.
  • @Hopdaddy50
    Just in time for the election 🥳😑
  • @alexhanna2445
    Seems easy to say we spent too much on stimulus coming out of the pandemic but it literally saved our economy and so this language becomes dangerous if creates the expectation we should do less next time
  • @user-iq5fl2et1d
    that's around 80k before interest... wow... after 17 years that could be A LOT of money! And please, "some" banks... change your signs and stop telling me it's going to "BOK" financial unless I get my money in 2 weeks or less!
  • @SIERRATREES
    The headline could just have easily have been, " Brian Moyhinan & BofA have taken recession off the table in forecasts, a change from previous forecasts. " BUT NO - FTN want the negative bias.
  • @jackryan1809
    nah, break up BOA. lol simply economics will tell you, big banks are the problem.
  • @user-iq5fl2et1d
    He is a smirker. Obviously not trustable in the least. I dunno... I just want my child support with included interest applied cut immediately. I need it within two weeks.
  • @LissaDark-e4h
    Each of your videos is a real discovery! Thank you for your ideas! 😻👅