Jan 23, 2025 - Politics & Policy
America's "uncorked" economy
Add Axios as your preferred source to
see more of our stories on Google.
DAVOS, Switzerland — Brian Moynihan, chair and CEO of Bank of America, embraced the business optimism that ran rampant at the World Economic Forum this week — with the prospect of reduced regulation energizing attendees.
Inflation and interest rate decreases were getting "overwhelmed" by new rules from the Biden administration, Moynihan told Axios' Courtenay Brown and Mike Allen during an onstage conversation.
- "The question is: How much does [deregulation] uncork in the United States, and how much was being held back?" Moynihan said.
💬 Moynihan, who this month started his 15th year as BofA CEO, said negative economic effects of President Trump's proposed tariffs could be offset by the new regulatory regime.
- That's so long as those tariffs are in the 10-15% range, he added.
