Bank of America’s CEO says consumers are spending more than they were the year before the Covid-19 pandemic invaded our lives.
Brian Moynihan has told CNBC, consumer spending has risen 20-percent above the level it was at in June of 109.
Moynihan cited stimulus money as one reason for the jump.
He also talked about the economy reopening as Americans go out to eat and visit places like amusement parks.
However, Moynihan said spending on travel has yet to recover. It’s still down as much as 15-percent compared to pre-pandemic levels.
Excited woman having fun shopping and holding bags while looking at the camera smiling.
Photo from Alpha Media Portland OR