June 23, 2021
Economy

US economy ‘roughly’ at pre-pandemic levels as America winning war with COVID: Bank of America CEO

Bank of America CEO Brian Moynihan believes that the United States is “starting to win the war” against COVID-19, with the economy reaching “roughly” pre-pandemic levels. 

The economy shrank considerably during the pandemic, contracting by about 3.5%: More than 400,000 small businesses closed, and some Americans had to rely on stimulus checks to make some purchases. 

Moynihan said during an appearance on CBS show “Face the Nation” that vaccination efforts and reopening businesses has provoked a strong response from the economy.

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“Spending is up dramatically,” Moynihan said. “Car rentals, hotels for leisure, travel, not business travel yet – that will probably be late this fall – is strong, theme park bookings and…

Read full article here: www.foxbusiness.com