Bank of America CEO Brian Moynihan says confident consumers are spending 5.5% more this year
"People are spending, and that's good news for the U.S. economy," Moynihan tells CNBC.
"People are spending, and that's good news for the U.S. economy," Moynihan tells CNBC.
The Fed has hit the brakes on rate changes for now — here's what that means for your bank account, mortgage loan, credit card, home equity loan, student debt and car payment.
The U.S. Federal Reserve on Wednesday held interest rates steady and signaled borrowing costs are likely to remain unchanged indefinitely, with moderate economic growth and low unemployment expected to continue through next year's presidential election.
The U.S. Federal Reserve on Wednesday held interest rates steady and signaled borrowing costs are likely to remain unchanged indefinitely, with moderate economic growth and low unemployment expected to continue through next year's presidential election.
Wall Street's main stock indexes moved modestly higher on Wednesday after the U.S. Federal Reserve held interest rates steady and signaled that borrowing costs are likely to remain unchanged indefinitely.
Nestle SA has agreed to sell its U.S. ice cream business to Froneri in a deal valued at $4 billion, moving control of brands including Häagen-Dazs to a joint venture the Swiss group set up in 2016.
Oil prices dropped almost 1% on Wednesday following a surprise build in U.S. crude inventories, and as investors waited to see if a fresh round of tariffs by Washington on Chinese goods would come into force on Sunday.
U.S. consumer prices increased solidly in November, which together with labor market strength could support the Federal Reserve's intention to keep interest rates steady indefinitely after reducing borrowing costs three times this year.
The chief executive of autonomous vehicle company Cruise signaled in a blog post on Wednesday that the General Motors Co subsidiary is shifting its focus to shared rides "at a radically lower cost."
U.S. short-term interest rate futures were slightly lower Wednesday after the Federal Reserve held interest rates steady and signaled most policymakers see little chance they will need to tweak borrowing costs until after next year's presidential election.
The U.S. federal government recorded a $209 billion budget deficit in November as an increase in spending on programs like public health insurance outpaced gains in revenues, the Treasury Department said on Wednesday.
Mexican business leaders on Wednesday began poring over texts of a new stricter trade deal with the United States and Canada, looking for details of how more intrusive enforcement of labor rules in Mexico would affect their operations.
The Business Roundtable, a trade group of top U.S. chief executives, announced Wednesday its members backed the revised U.S.-Mexico-Canada (USMCA) trade deal after negotiators brought the hard-won agreement across the finishing line.
The U.S. Federal Aviation Administration said on Wednesday it was investigating production issues at Boeing Co's 737 MAX factory, raised by an ex-manager who warned that schedule pressure and worker fatigue undermined quality and raised safety risks.