BoA CEO: Consumer spending hasn’t slowed yet

• Consumer spending hasn’t slowed yet, but I use the word ‘yet’ because it could with job losses
• Consumer spending consistent with 2% growth
• I worry that trade war could be more concerning if it shifts to services
• We should be highly interested in making sure the US can export services
• Deposits have performed better than we thought
• We’re prepared for times of stress

That’s a positive take from Moynihan on CNBC.

Shares of Bank of America are up 3.6% today following earnings but are still down sharply since November.

This article was written by Adam Button at www.forexlive.com.