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J.D. DURKIN: Here’s a look at what to watch…
We are following comments from some of the top banking CEOs about the current state of the economy during their Q3 earnings calls.
Bank of America CEO Brian Moynihan made headlines for saying spending and savings data shows… the consumer is healthy. Moynihan said — “analysts might wonder whether the talk of inflation, recession, and other factors could [result] in a slower spending growth. we just don’t see [that] here at Bank of America.”
Jane Fraser — the CEO of Citigroup — said on their call: “the u-s economy remains relatively resilient… supply chain constraints are easing… the labor market remains strong… we *could see a mild recession in the second half of 2023 — [but] — we believe the u-s economy is well-positioned to withstand it.”
Wells Fargo’s Charles Scharf said — “even with inflation… energy price volatility… and…
