Bank of America CEO recalls when US 'society was in pretty rough shape'
FOX Business’s Maria Bartiromo interviews Bank of America CEO Brian Moynihan about the state of the U.S. economy, capital spending and the U.S.-China trade tensions.
Bank of America CEO Brian Moynihan said the U.S. economy is still healthy despite all the uncertainty around trade and tariffs.
“Access to credit is good, wages are growing, unemployment is at levels that are unprecedented,” he told FOX Business’ Maria Bartiromo during a discussion at the Economic Club of New York on Tuesday.
The U.S. economy added 263,000 jobs in April, bringing unemployment to a 50-year low. Average hourly earnings rose by 6 cents to $27.77. Over the year, average hourly earnings increased by 3.2 percent.
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Moynihan said the U.S. looks much different today compared to the period between 1969 and 1973, when “society was in pretty rough shape.”
“Think about what happened -- Nixon, Vietnam was raging, Kent State, Martin Luther King, Bobby Kennedy, the DNC – think about all that that went on and then ultimately… oil shock… more than a shock. Think about all that. And yet we’re on the other side,” he explained.