NEW YORK (Reuters) – Bank of America Corp Chief Executive Officer Brian Moynihan said U.S. consumers are still in good financial health.
“Right now, they’re in very good shape,” Moynihan told attendees at an Institute of International Finance conference in Washington.
He cited high savings rates, strong credit quality, and a 10% increase in consumer spending so far in October.
(Reporting by Lananh Nguyen and Saeed Azhar; Editing by Chris Reese)