Bank of America CEO Brian Moynihan expects no interest rate cuts this year [FOX Business Network]
Bank of America Corporation (BAC)
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Source: FOX Business Network
Bank of America CEO Brian Moynihan weighed in on President Donald Trump's new auto import levies, how consumers are reacting to the administration's tariffs and the bank's expectations about interest rates. The new measure unveiled Wednesday by the president will put a 25% tariff on passenger vehicles, light trucks and some auto parts imported into the U.S. "I think the concept wasn't a surprise. It was in the campaign, it's been talked about, but the reality is now coming, and so people are starting to make adjustments and trying to figure out what it all means," Moynihan said Thursday on "The Claman Countdown." Bank of America analysts think the new tariff will cause car prices to go up and purchase of vehicles to slow down, he told host Liz Claman, noting "that's what you're seeing reflected in the market." "When they think about it more broadly, it may add a quarter percent inflation. It may slow down some growth in places like Japan because they export more to the United
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