According to Odaily Odaily, Bank of America CEO Brian Moynihan pointed out that the U.S. economy is far larger than the Federal Reserve (Fed), and the latter should not occupy so much of the public's attention.
In an interview on CBS's "Face the Nation" program that aired last Sunday, Moynihan was asked about Trump's impending nomination of a new Federal Reserve chairman to succeed Powell, and what this means for consumers.
“People are too obsessed with the Federal Reserve,” Moynihan said.
He added that the economy is driven by the private sector, which includes small, medium and large enterprises as well as entrepreneurs.
"The idea that our fate hangs on the Fed's 25-basis-point rate adjustment seems to me utterly absurd," he said. (Jinshi)
