BofA CEO: The Fed should cut interest rates as soon as possible, and the inflation rate has already declined

BlockBeats news, on August 13th, Bank of America CEO Brian Moynihan said in an interview that with the economic slowdown and consumer tightening spending, the Federal Reserve should cut interest rates as soon as possible. Brian Moynihan said, 'The economy is slowing down, so we must be cautious because we have already achieved victory in suppressing inflation, and the inflation rate has dropped. Although it has not yet reached the level people hope for, we must be careful not to try to do too well that it leads us into a recession.' The executive said that Bank of America analysts do not predict a recession this year. Brian Moynihan added, 'They tell people that the Interest Rate may not pump, but if they don't start cutting interest rates relatively quickly, it may undermine the confidence of American consumers.'