Bank of America’s Moynihan says firm is preparing for US debt default

Summary by Ground News

Bank of America CEO Brian Moynihan says the country must be ready for default. He says the government has taken on a lot of debt to overcome the Covid-19 crisis. Moynihan says he still predicts a "mild recession" at some point in the future.

Published 4 months ago · Charlotte, United States

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CNN

The CEO of America's second-largest bank is preparing for possible US debt default

Congress is once again bickering about raising the debt ceiling, the amount of money the US government can borrow to pay its bills on time. And that means that Corporate America has to be ready for the worst.

4 months ago·Atlanta, United States

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The Hill

Bank of America’s Moynihan says firm is preparing for US debt default

Bank of America CEO Brian Moynihan on Monday said the firm is preparing for the U.S. to default on its debt after surpassing its borrowing limit last month. Lawmakers are locked in talks about whether to lift the debt ceiling, with Republicans insisting on spending cuts before a deal to raise the limit is struck,…

4 months ago·Washington, United States

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Washington Examiner

Bank of America prepares for US to default on national debt, CEO says

Bank of America is preparing for the United States to default on its debt for the first time in history, CEO Brian Moynihan said Monday. The U.S. reached its debt ceiling last month.

4 months ago·Washington, United States

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Business Insider

Bank of America CEO Brian Moynihan warns to prepare for a US debt default and a recession that will drag down corporate earnings

A US debt default is still an uncomfortable possibility, according to BofA CEO Brian Moynihan."You hope it doesn't happen, but hope is not a strategy – so

4 months ago·United States

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