Bank of America CEO Brian Moynihan: Spending Is Up 3/19/25

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 19 March 2025

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

In an extended interview, Bank of America Chairman and CEO Brian Moynihan discusses inflation, trade policy, consumers, and the Federal Reserve. The head of the nation’s second largest bank says, though consumer sentiment is down, spending is up. President Trump has fired both Democratic commissioners at the Federal Trade Commission; CNBC’s Eamon Javers reports on the ensuing drama, lawsuits, and debates about Presidential constitutional authority. Plus, Nvidia’s week-long GTC developers conference is underway. Eamon Javers - 08:57 Brian Moynihan - 15:58 In this episode: Eamon Javers, @EamonJavers Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music, please.
0:03.0	Hi, I'm CNBC producer Katie Kramer.
0:07.0	Today on Squawk Pod.
0:09.0	Brian Moynihan, head of Bank of America, with a word on the consumer.
0:14.0	The consumer is saying I'm getting more pessimistic in some of the surveys and things like that,
0:18.0	but if you actually look what they're doing day to day, they continue to spend,
0:20.0	which means the economy ought to be holding up better than people think.
0:23.6	What the head of the nation's second largest bank is seeing in the economy, the new administration,
0:29.4	and the eye word, inflation.
0:31.3	It's sticky before the tariffs. The tariffs then add a nominal amount to it. They're not
0:35.4	caught. It's the stickiness of inflation has been true.
0:39.6	And Invidia's Day in the Sun, what's in your cereal box? And the dramatic firing of two
0:45.6	Democrats on the Federal Trade Commission. Our Eamon Javers reports from Washington.
0:50.2	This is an administration that clearly is intending to test the absolute outer limits of presidential authority.
0:56.0	They want to amass as much power as quickly as they can.
1:00.0	It's Wednesday, March 19th, 2025.
1:04.0	Squawk Pod begins right now.
1:06.0	Stand Becky by in three, two, one.
1:09.0	Coole please. Cue, please.
1:12.7	Good morning, everybody.
1:15.3	Welcome to Squawk Box right here on CNBC.
1:17.7	We're live from the NASDAQ market site in Times Square.
	...

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