Bank of America CEO Brian Moynihan expressed concerns about the potential impact of the U.S. Federal Reserve’s interest rate policy on consumer sentiment and former president Donald Trump‘s idea of presidential control over the Fed’s rate decisions. What Happened: Moynihan warned that if the Federal Reserve does not initiate interest rate cuts in the near future, it could lead to a decline in consumer confidence, in an interview with CBS on Sunday. The Federal Reserve has maintained the policy rate at 5.25%-5.50% for over a year but hinted at a possible rate cut in September if inflation conti…
