Brian Moynihan is the CEO of Bank of America and spoke out on Sunday about his belief about the recovery of the American economy. According to Moynihan, analysts at Bank of America don’t expect the economy to recover from the Coronavirus shutdown until late 2021.
The economy has taken a a massive hit (the biggest in American history) during the Coronavirus shutdown. Over 25 million workers are out of work and money is just not being spent.
Moynihan said on Face the Nation on CBS “Our estimates, our experts think it’s late next year when the economy gets back to the same size it was prior to this…”