BRICS : Bank of America forecasts future of US Financial System

WASHINGTON D.C : As the global economy has embraced de-dollarization spearheaded by the BRICS Alliance, Bank of America has forecasted the future of the US financial system. Indeed, the financial institution CEO Brian Moynihan recently discussed his expectations of the country’s economic outlook.

The country has been in a fragile economic state for much of the last two years. Subsequently, increased inflation has forced a tightening policy embraced by the Federal Reserve. Now, Central Bank officials are waiting for inflation to continue to decrease before enacting the long-awaited interest rate cuts at some point this year.

Bank of America CEO Addresses State of US Economy

Throughout 2023, there is no understating of the distress that the US economy faced. With inflation a problematic development and global concern directed toward the US Dollar, American citizens faced increased uncertainty. Subsequently, although the situation is growing less dire, worry still abounds.

Amid geopolitical pressure brought on by BRICS de-dollarization, Bank of America CEO Brian Moynihan has recently forecasted the future of the US financial system. Indeed, he expressed his opinion on the performance of the economy in the short term. Ultimately, addressing what the bank’s strategists are set to expect this year.