Bank of America CEO: The Fed faces major risks and should cut interest rates as soon as possible

Brian Moynihan, CEO of Bank of America, said in an interview that the Federal Reserve should cut interest rates as soon as possible as the economy slows and consumers tighten spending. Brian said: "The economy is slowing down, so we have to be careful because we have won in curbing inflation and the inflation rate has fallen. Although it has not fallen to the level people hope, we must be careful not to try to be too perfect and bring us into a recession. If the United States does not start to cut interest rates relatively quickly, it may hit the confidence of American consumers. Investors want to see data that falls in a "sweet spot". The data should be "cold" enough to ensure that the possibility of a rate cut in September will not be questioned, but it should also be "warm" enough to eliminate the recession concerns that have plagued the market recently." (Jinshi)