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