Bank Of America CFO Alastair Borthwick At Bank Of America Conference, Said Can Still See Elevated Consumer Buying Behavior; Said It's Difficult To See A U.S. Recession When The Consumer Is Spending 4% Higher YoY
Portfolio Pulse from Charles Gross
Bank of America's CFO, Alastair Borthwick, stated at a conference that elevated consumer buying behavior is still noticeable. He also mentioned that it's difficult to foresee a U.S. recession when consumer spending is 4% higher year-over-year.
September 20, 2023 | 11:41 am
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Bank of America's CFO's comments about strong consumer spending could boost investor confidence in the bank's performance.
Bank of America's CFO's comments about strong consumer spending indicate a healthy economy, which is generally positive for banks. This could lead to increased investor confidence in Bank of America, potentially driving its stock price up in the short term.
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