ChainCatcher news, Bank of America CEO Moynihan stated that incoming Treasury Secretary Basant is very knowledgeable about the industry and is an "excellent" candidate. (Jin Shi)

ChainCatcher news, according to Jinshi reports, Bank of America CEO Brian Moynihan believes that if the United States does not balance its spending with economic growth, it will regret it. If this issue is not addressed, the U.S. may lose its "gold standard" status in the economy.He also stated that the debt issue is not something that can be handled in the first week of a new government taking office, nor is it a problem that the old government can continue to govern------it is a discipline issue that spans time.

ChainCatcher News, Bank of America CEO Brian Moynihan stated in an interview that the Federal Reserve should lower interest rates as soon as possible due to the economic slowdown and consumers tightening their spending.Brian Moynihan said: "The economy is slowing down, so we have to be careful because we have already won the battle against inflation, and the inflation rate has come down."The executive noted that Bank of America's analysts do not predict a recession this year. Brian Moynihan added: "They tell people that interest rates may not go up, but if they don't start lowering rates relatively quickly, it could hurt the confidence of American consumers."