CEO: INFLATION WILL FORCE THE FED TO TAKE ACTION

Bank of America CEO Brian Moynihan warned in an interview with CBS News "Face the Nation" that inflation could force the Fed to take action. He noted that while consumer spending continued to grow and wage growth had not disappeared, the economic relief expected by households had not yet come, and food, housing and fuel costs remained high. Moynihan believes that inflation will remain intransigent and may affect future economic growth. American and silver economists predict that inflation will continue until 2027 and 2028, and that the Fed may start raising interest rates later this year in response to continuing inflationary pressures。