Bank of America CEO on inflation impact on U.S. economy: ‘Rates are going to stay where they are'
1. Bank of America reports 6% increased consumer spending this year. 2. CEO expects Federal Reserve to maintain current interest rates. 3. U.S. consumer price index shows unexpected inflation growth. 4. Inflation limits potential rate cuts despite easing cycle. 5. Retail demand signals economic firmness impacting future rate decisions.