Bank of America CEO: US economic growth in 2026 will exceed expectations.

Brian Moynihan, the CEO of Bank of America, is optimistic about the US economy, stating that the bank expects GDP to grow at a rate of 2.8% by 2026, higher than the average expectation of 2.1%. He said at Davos in Switzerland that the bank's economic research team has revised their forecast to reflect the stimulating effects of consumer spending, wage growth, and tax legislation. The CEO stated, "On the business side, there is accelerated depreciation and other permanent measures, so people can plan accordingly." He also mentioned the construction of AI, reshoring in manufacturing, and interest rate cuts - all of which have a significant impact when combined. While people are always discussing what the Federal Reserve will do next, they seem to forget that the Fed has already cut interest rates, and the benefits of those cuts will be seen this year.