BofA’s CEO says the biggest recession risk is the fear of recession

Katherine Chiglinsky and Jenny Surane

08/16/2019

BANK OF AMERICA CEO Brian Moynihan said that recession risks are low in the U.S. as consumer spending remains strong but noted that fear of a recession could impact the economy. / BLOOMBERG NEWS/SIMON DAWSON

NEW YORK – Bank of America Corp. CEO Brian Moynihan said this week’s bond-market turmoil has been driven by issues outside the United States, and that recession risks are low in the country as consumer spending remains strong. “We have nothing to fear about a recession right now except for the fear of recession,” Moynihan…

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