Bank of America CEO Welcomes Trump's Economic Policies
DAVOS, Switzerland (Reuters) - Bank of America CEO Brian Moynihan expressed optimism about the economic policies announced by President Donald Trump since his inauguration.
"They want to see the U.S. economy grow and prosper," Moynihan told Reuters in an interview.
Business leaders and policymakers at the World Economic Forum's annual meeting in Davos are analyzing the potential impact of Trump's executive orders on the economy. Despite speculation, tariffs were not immediately imposed, and Trump indicated that his administration was not yet prepared for a universal tariff on imports.
"Everything we heard yesterday is not different than what we heard in the campaign... so now they've got to start to figure out how to implement these changes," Moynihan said.
According to BofA research, tariffs in the range of 10% to 15% are unlikely to have a significant impact on the economy or spark inflation.