BofA CEO Moynihan predicts smooth landing for US economy

Bank of America CEO Brian Moynihan predicts a soft landing for the US economy, with a slowdown in consumer spending and commercial borrowing. Despite the slowdown, Moynihan believes the economy will avoid a recession. Bank of America's economists forecast a 2.7% growth for the US economy this year and 0.7% in 2024. The bank also plans to expand its investment banking capabilities and has a succession plan in place for Moynihan's eventual departure.