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

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.

[Lzappa]

He wants the money printer turned back on for him and his rich friends. The banks dont care about people struggling with the cost of living, the unaffordability of housing or the terrible job market. Raise the interests ratss, we need some more pain for a lil bit longer but our economy will be stronger down the road with higher FED interest rates. People should be rewarded for saving and investing their money wisely.

[mattsmelley]

Bank of America.., 🤔 remember 2008 and BOA🤔

[Thenatureboy]

Anyone else find it absolutely insane that the government mismanaged its checkbook so badly that now we all have to pay massively higher interest rates because of their mistakes?

[deanfaklaris]

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.

[dreadfuldonkey]

Dude is scared as F*** I can hear it in his voice but they need someone to tamp down the fire

[JeffreyGillespie]

This should be titled “raging drug addict begs dealer for more of the good stuff”

[ajshaka]

Increase interest rates and decrease the money supply. Prices need to go back precovid

[starship]

Feds not cutting until inflation is done. RiP bofa

[Bat_Boy]

I do trust what a banker says. 😅😂 Edit: And I work for a bank. 😅

[THEWADDMAN]

I'm so glad that Kamala is taking over for the next 8 years. It's going to be a great time for America. Liberal, progressive policies are the best thing for us!😊❤

[bittersweet]

Isn't this guy a member of the WEF?

[scotshuthats]

Is Ms Margaret in favor of Taxing TIPS ...😊

[tarawhite]

The more money you have the more problems you have

[robertruiz-pj]

America deals with the debt they have the same way America deals with you Margret, faking and manipulating the CBS news. Denial ! Now both sides are for ‘no tax on tips’ ! 😂

[Pazzi-yk]

Treasury Bond Market owns the Federal Reserve this journalist and CEO are diluted ..rates unequivocally will be slashed .50 basis point

[stackchn]

Perhaps if banks 🏦 weren't charging 29% for their credit 💳 than households wouldn't be so overextended.

[leonie]

Big Short "cat 💩 wrapped in 🐕💩" comes to mind. He's panicking knows the mortgage book is full of sub prime and wont get bailed out....really hope Trump or Biden's replacement are not stupid enough to bail put Banks or mortgages again.

[chri]

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

[danielscott]

More and more debt to be paid back by taxing the hell out of workers so money can flow to healthcare, tech, oil and defence oligopolies. Eventually the workers wont be able to pay, what then?

[richiekock]

The guy looks scared. Hiding information and praying that certain questions are not asked, he can sit look pretty and go through the motions.