Bank of America CEO Urges Fed to Not Go Too Hard on Rates
- Brian Moynihan speaks in Bloomberg TV interview in Sydney
- Moynihan says he expects US terminal rate of around 3.25%
Bank of America Corp. Chief Executive Officer Brian Moynihan has urged Federal Reserve policymakers to be measured in the magnitude of interest-rate reductions.
“They were late to the game” in lifting borrowing costs in 2022, Moynihan said in an interview with Bloomberg TV in Sydney on Wednesday in his first trip to Australia. “They have got to make sure they don’t go too hard now” with cuts.