Bank of America CEO Sees Economy Bouncing Back After Health Crisis

Bank of America Corp. Chief Executive Officer Brian Moynihan expects the U.S. economy to bounce back fairly quickly once the coronavirus health crisis is resolved.

“There are no structural issues in the economy -- it’s a health-care crisis, and I think if we mitigate that health-care crisis, you will see on the other side of this a rebound,” Moynihan said in an interview Wednesday on Bloomberg Television. Consumer spending by the bank’s customers rose 2% to 3% in March even as the virus started to crimp activity in the latter half of the month, he said.