Economics
Bank of America’s CEO Says More Stimulus Needed to Help Last of Recovery
- Moynihan says ‘second bite at the apple’ needed for PPP
- Restaurants, airlines, governments require more help, he says
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Bank of America Corp. Chief Executive Brian Moynihan called for another round of federal stimulus to help the U.S. reach a full economic recovery from the coronavirus pandemic.
“You’re back up to where 95% of the economy is back,” Moynihan said Friday in an interview with David Westin in advance of next week’s Bloomberg Equality Summit, adding that more help is needed for restaurants, airlines, performing-arts venues and state and local governments so they can “cross that same bridge” as housing, health-care and other recovered industries. “We’ve got to help everybody else get across.”