Latest / Raleigh News Today | 2 Min News | The Daily News Now!
Bank of America’s Strong Earnings Signal Persistent Inflation | Raleigh News
Bank of America’s Q2 earnings soared to $9.1 billion, a 27% jump from last year, as CEO Brian Moynihan credits resilient consumer spending and AI investments for the surge. Despite rising gas prices and inflation concerns, the bank’s research upgraded its 2026 U.S. growth forecast to 2.2%, signaling a strong economy that’s keeping inflation sticky. With consumer spending hitting new highs in June and July, and their massive checking account network giving real-time spending insights, Bank of America predicts the Fed may hike rates by 75 basis points next year — more than markets expect —…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.