Bank of America CEO Brian Moynihan says "affordability is a challenge" for customers
Summary
Bank of America CEO Brian Moynihan said many customers are struggling with affordability because gas, food, and other prices are rising. However, he noted that wages have recently grown by about 3 to 4% across different income groups.Key Facts
- Customers are facing challenges affording everyday items due to higher gas and food prices.
- Inflation, which means overall prices going up, is a problem for many people.
- Wages, or paychecks, have been increasing in the last few months.
- The wage growth is around 3 to 4% for workers at different income levels.
- Brian Moynihan shared this information during an interview on the show "Face the Nation with Margaret Brennan."
- Bank of America is one of the largest banks in the United States.
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