“They are a very strong force and you can see them very healthy,” Moynihan said Tuesday.
Bank of America CEO Brian Moynihan told CNBC's Jim Cramer on Tuesday that Americans are spending heartily, even as inflation continues to roil the economy.
"Don't fight the U.S. consumer. They are a very strong force and you can see them very healthy. Their loan balances are down, they have plenty of borrowing capacity and they have plenty of spending capacity," he said.CEO Brian Moynihan told CNBC's Jim Cramer on Tuesday that Americans are spending heartily, even as inflation continues to roil the economy.
"In the month of March '22 versus March '21, the consumer … spent about 13% more than they did last year," Moynihan said Tuesday in an interview on""But importantly, in the first couple weeks in April, that number's moved back to 18%, indicating faster spending in consumers," he added.
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