Bank of America CEO: Consumer spending holding up, despite negative sentiment

• Looking ahead, he expects inflation to drift down, and the Fed to cut rates — and says that consumer spending has been accelerating, based on BofA's internal customer data.
• Bigger tax returns this year may juice spending even more, he said.

The intrigue: Moynihan noted that the solid spending activity is at odds with what Americans say they feel about the economy.

• Consumer sentiment is hovering near the lowest levels on record, according to a closely watched survey from the University of Michigan. Concern about higher prices is putting a dark cloud over many Americans' view of the economy.

Zoom out: Bank of America is the official bank sponsor of the FIFA World Cup this year.

• When asked what most excites him about the partnership, Moynihan said it's helping "to bring the sport from an elite, unbelievably narrow group of people to ever touch a World Cup pitch" into more communities across America.
• In tandem with the partnership, BofA aims to help create soccer facilities and clinics for kids.

That goal is something he has in common with his newfound friend, David Beckham. BofA also recently partnered with the iconic soccer player and entrepreneur on his global sports program, Sports with US.

• Childhood sports opportunities were critical in enabling Beckham to become a successful athlete, Moynihan noted.
• "David believes in the democratization of sport ... and what it does for people," he said.