Bank of America CEO Brian Moynihan appeared on "Face the Nation with Margaret Brennan" on July 19, 2026, to discuss the current economic landscape and outlook for the United States.

Moynihan noted that consumer spending remains robust, with about 70 million consumers spending over $400 billion monthly and increasing their expenditures by 5 to 6% in June 2026 compared to the previous year. He attributed ongoing inflation pressures to this spending behavior, projecting inflation to stay elevated through 2027 and 2028. Moynihan also indicated that the Federal Reserve is likely to raise interest rates, a shift from expectations six months prior when rate cuts were anticipated.

Highlighting Bank of America's performance, Moynihan reported a 70% year-over-year increase in investment banking activity, driven by mergers and acquisitions and corporate client engagement. The bank's consumer business generated $3 billion in after-tax profits during this period.

Addressing public sentiment, Moynihan referenced polling data showing that 22% of Americans view economic affordability as the nation's biggest challenge over the next 50 years. He summarized the economic situation by saying, "It's getting close to as good as it gets. We just don't know long- how long it's going to last."

The interview also touched on the broader financial environment, including Wall Street's benefits from an IPO boom related to artificial intelligence, contrasted with New York State's recent decision to bar the construction of large-scale data centers.

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