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US Consumers Seen Shrugging Off Economic Gloom: Davos Update

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Bank of America Chief Executive Officer Brian Moynihan says US consumers have money to spend and will unlikely be deterred by inflation and economic gloom. 

The upbeat forecast on the second day of the World Economic Forum in Davos, Switzerland provided a counterpoint to the fallout from Russia’s invasion of Ukraine, which is dominating the gathering in the Swiss Alps.