BofA CEO Brian Moynihan says both consumers and businesses are ‘slowing things down’-in fact, they’re acting like it’s 2016, a period of ‘very low growth’

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Consumers might be squeezed by inflation, but it seems their wallets aren't tight enough to stop them spending on enjoying a good time. At least, that's what Brian Moynihan is seeing from the data at Bank of America. But while shoppers are still splurging on experience spending, they're consciously pulling back on more day-to-day purchases such as groceries. And the story is the same on the commercial side, said the CEO, where spending is still there but the purchasing is slowing. Speaking at the AllianceBernstein Strategic Decisions conference in New York this week, Moynihan said the behavior he's seeing from...