Economy already better than before pandemic Bank of America CEO says at NDSU
FARGO, N.D. (KVRR) – During a conversation at North Dakota State University, Bank of America’s CEO sees a bright future for our country’s economy.
Brian Moynihan said during Senator Kevin Cramer’s speaker series “The Bully Pulpit” at Richard H. Barry Hall the economy is the size it was before the pandemic. He added Bank of America’s experts estimate it to grow more than five percent this year, four percent next year and two and a half percent in 2023.
Moynihan credits the work done by Senator Cramer and his colleagues to help keep people afloat during the pandemic.
“A person who had $2,000 to $5,000 in all their accounts in our bank, deposit accounts, before the crisis now have three times that amount,” Moynihan said.
Moynihan said one of the reasons our economy has done so well is coronavirus vaccines have given people more confidence in markets.
He added Bank of America has $250 million in commercial loans in North Dakota.
You can watch the full conversation on The Bully Pulpit below.