On December 30, Bank of America CEO Brian Moynihan told CBS’s 'Face the Nation' that the market’s overemphasis on the Federal Reserve is “gone too far.” He argued the private sector—not 25-basis-point rate moves—drives the U.S. economy. While acknowledging the Fed’s role in crises, Moynihan stressed it should be “invisible” in normal times. He warned markets would react harshly if the Fed’s independence wavers, as CFT concerns grow over policy manipulation. His remarks come amid Trump’s push for rate cuts, which could impact risk-on assets.

As reported by TechFlow, on December 30, Bank of America CEO Brian Moynihan warned on CBS's 'Face the Nation' that the market's obsession with the Federal Reserve is 'gone too far.' He emphasized that the U.S. economy is primarily driven by the private sector, not Fed interest rate adjustments, calling the belief that the economy hinges on 25-basis-point rate changes 'completely upside down.' Moynihan acknowledged the Fed's critical role during crises like the financial crash and pandemic but argued that in normal times, 'people shouldn't even feel its presence.' He also warned that if the Fed loses its independence, markets would punish it. The comments come amid ongoing pressure from Trump for deeper rate cuts.Source:Show originalDisclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.