The CEO of the Bank of America said he expects the Fed not to reduce the rates this year

CEO Nadezhda Nadezhda’s new sales Donald Trump as consumers respond to the administration’s tariffs and the bank’s expectations about interest rates.

The new measure presented by the President on Wednesday will supply 25% tariff

“I think this concept was not a surprise. It was in the company, it was talking about it, but the reality is going now, and so people are starting to make adjustments and trying to find out what it all means,” Mainihan said on Thursday to Claman’s count.

President Trump announces new authoritations

Bank’s Bank’s analysts believe that the new tariff will increase the car prices and the purchase of vehicles to slow the speed, it said hosts Liz Klaman, noting that “this is what you see what is reflected on the market.”

Brian Minikhan, Chief Executive Director of Bank of America Corp. (Stefan Wermuth / Bloomberg via Getty Images / Getty Images)

“When they think more widely, it can add a quarter of interest inflation. This can slow the growth in places such as Japan because they are more exports to the US, but overall these things are absorbed over time,” Mainihan said. “But until they are clarified, no one knows this, and it is unprecedented waters in terms of the number and different works and similar things.”

The automotive tariff is scheduled to come into force early next week, noting the latest collection for imports of other countries from Trump after joining the post in January.

On Wednesday, March 26, President Donald Trump points to the Washing House Moon’s Moon in Washington. (Reuters / Carlos Barria / Reuters)

“If we retreat back and talk about our team, given the whole tariff dialogue and try to consider it in our Bank’s Bank’s research team … They have an increase in the US, a positive growth of 2%, one and a half quarters and passes up to 2%, which is a rather constructive view,” he said.

He also said that Bank of America doesn’t see Federal Reserve This year, the decrease is because they believe that inflation was sticky and will continue to be sticky. ”

Federal Reserve leaves key interest rates unchanged amid uncertainty in economics, inflation

Inflation, measured by the consumer price index, showed an increase of 0.2% per month and 2.8% jump compared to last year.

Bank of America is still seeing its customers spend money on Tuesday, According to the minihan.

“The money leaving their accounts is not only on their credit and debit cards, which is just over 5%, but a total of 5%, where March 24 to March 25, and then in the first quarter, is a similar amount that was a little faster than it was in the fourth quarter,” he reports.

“So, everything you hear about consumers cease to spend, we do not see it yet,” said Minihan, noting that “good” for the American economy and “shake” in the future.

According to the Bank of America, the credit card data, the cost of food has grown some of the higher prices, he said. Restaurant and entertainment costs were also positive.

San Francisco -January 20: The Bank’s Bank logo is displayed on the side of the Bank’s Office of America on January 20, 2010 in San Francisco, California. Bank of America reported the loss of the fourth quarter of $ 5.2 billion or 60 cents per share to compare (Justin Sullivan / Getti Image / Getti Image)

“The quality of the loan is useful for consumers, especially the prime consumer,” said Minihan. “Their mortgage loan is recorded at very low speeds, despite the higher rates and difficulties that cause the housing market. Cars are already under pressure because the tariffs are automatic, so it will just add to it and we will see what.”

It “really comes down to” employment for the consumer, noted, noting that the current unemployment rate in the US and the call to increase wages “is still relatively strong”.

The Bureau of Statistics Labor tied to unemployment rate 4.1% in February.

“It keeps them in good shape, and it will be good if we work during this uncertainty, because businesses and others shake what it means and how they adjust to it,” he said.

In February, in February, the fall decreases by almost 11%, reports a survey of Michigan University consumers.

“The American consumer is interesting because they will say things and they will do everything,” said Minin Klaman. “And despite the fact that the confidence of the last month decreased, they still spent this month. After all, they are working and we pay them more, and the indicators of the companies are declining, and the labor market is not as hard as it was, you know two years ago or a year ago … It’s a solid installation.”

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He said that tariffs and “problems around tariffs and uncertainty” is more in small and medium -sized enterprises and large enterprises.

“But if you look at our small medium-sized customers, I wonder before the pandemic, they would borrow with a speed of about 40% of the loan round numbers, that is, they will use a line on average 40%. Now they are about 3 or 4%,” Mainihan said.

He suggested that they were trying to make sure that “they really have something to spend” and that the tariffs “just add another question.”

He said such customers “would be a little on the sidelines” until it is more clarified, he said.