Bank of America CEO Warns of Market Punishment Without Independent Fed
Bank of America CEO Brian Moynihan emphasized the importance of maintaining the Federal Reserve’s independence amidst President Trump’s search for a new chair. He stated that the market would negatively react if the Fed’s independence was compromised. The current chairman’s term expires in May 2026, and although Mr. Trump has the power to nominate the new chair, Moynihan believes there is currently “too much fascination with the Fed.” Moynihan suggests the focus should remain on the private sector and the individuals that drive the economy.
John Q. Hosedrinker