Bank of America CEO Reveals Americans Are Being Cautious with Spending, What's Up With That?

Banks Ain't Joking Around

So according to Bank of America CEO Brian Moynihan Americans are slacking on their spending game this year. Looks like inflation and interest rates got them all shook up.

From Ballin' to Crawlin'

Moynihan spilled the tea at a financial conference in New York where he mentioned that folks are slowing down on buying everything from hard goods to software. Time to tighten those purse strings I guess.

Inflation Bruh!

The Fed started hiking rates last year to tame inflation and it looks like it's working. But hey consumers are still feeling the burn with those high prices. Ain't nobody got time for that!

Hitting Up the Grocery Stores

Moynihan mentioned that people are now hitting up more grocery stores in search of deals. Three stores instead of two? That's some dedication right there. Must be trying to save those fresh kicks for the 'Gram.

Keepin' the Consumer in the Game

Moynihan stressed the importance of keeping consumers in the game because let's face it they run the show in the U.S. economy. Gotta keep 'em happy and spending those Benjamins am I right?

Small Biz Blues

And let's not forget about the small and medium sized businesses feeling the pinch too. Moynihan pointed out that they're not hiring as much not buying equipment as fast and not splurging on that new software. Tough times for everyone I guess.