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Bank of America's CEO responds to weak jobs report that spurred Trump firing of BLS chief

1. Moynihan criticizes political influence on BLS commissioner’s firing after weak jobs report. 2. Job additions in July were only 73,000, below economist estimates. 3. BLS revisions show 258,000 fewer jobs added in May and June than reported. 4. Moynihan emphasizes need for better data collection methods over traditional surveys. 5. Political tensions around employment data could affect market perception and investor confidence.

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FAQ

Why Bearish?

The weak jobs data and BLS revisions raise economic concerns, potentially affecting BAC.

How important is it?

Concerns about jobs data impact investor sentiment, which could lead to short-term BAC price volatility.

Why Short Term?

Immediate market reactions due to job data revisions are likely, affecting BAC stock in the near term.

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