Bank of America’s Strong Earnings Signal Persistent Inflation | Raleigh News

Bank of America’s Q2 earnings soared to $9.1 billion, a 27% jump from last year, as CEO Brian Moynihan credits resilient consumer spending and AI investments for the surge. Despite rising gas prices and inflation concerns, the bank’s research upgraded its 2026 U.S. growth forecast to 2.2%, signaling a strong economy that’s keeping inflation sticky. With consumer spending hitting new highs in June and July, and their massive checking account network giving real-time spending insights, Bank of America predicts the Fed may hike rates by 75 basis points next year — more than markets expect — driven by global conflicts pushing up energy costs and inflation. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/3a7680e3febba340