financetom
Economy
financetom
/
Economy
/
BofA CEO welcomes Trump's economic policies as 'good thing' for business
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
BofA CEO welcomes Trump's economic policies as 'good thing' for business
Jan 21, 2025 5:14 AM

DAVOS, Switzerland (Reuters) - Bank of America Chief Executive Brian Moynihan on Tuesday welcomed economic policies announced by U.S. President Donald Trump since his inauguration as a "good thing" for business.

"They want to see the U.S. economy grow and prosper," Moynihan said in an interview with Reuters on Tuesday, referring to the new administration.

Corporate executives and policy makers gathering at the World Economic Forum's annual meeting in Davos, Switzerland, are parsing the economic impact of Trump's initial executive orders.

Trump did not immediately impose tariffs, and said his new administration was not ready for a universal tariff on all imports into the United States.

"Everything we heard yesterday is not different than what we heard in the campaign ... so now they've got to start to figure out how to implement these changes," Moynihan said.

Tariffs of 10% to 15% are unlikely to have a significant impact on the economy or spur inflation, he added, citing BofA research.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
In fight to curb climate change, a grim report shows world is struggling to get on track
In fight to curb climate change, a grim report shows world is struggling to get on track
Nov 14, 2023
The State of Climate Action report released on Tuesday by the World Resources Institute, Climate Action Tracker, the Bezos Earth Fund and others looks at what's needed in several sectors of the global economy power, transportation, buildings, industry, finance and forestry to fit in a world that limits warming to 1.5 degrees Celsius (2.7 degrees Fahrenheit) over pre-industrial times, the goal the world adopted at Paris in 2015. The globe has already warmed about 1.2 degrees Celsius (2.2 degrees Fahrenheit) since the mid-19th century.
JPMorgan has a new way to gauge its green progress
JPMorgan has a new way to gauge its green progress
Nov 15, 2023
As the largest energy banker, JPMorgan is a frequent target of criticism over Wall Street’s role in the climate crisis. At the same time, the bank is a leading US arranger of green bonds, making it vulnerable to Republicans seeking to protect the fossil fuel industry.
India looking into 'freak' incidents like damage to Sikkim's Chungthang dam: RK Singh
India looking into 'freak' incidents like damage to Sikkim's Chungthang dam: RK Singh
Oct 18, 2023
Stressing on the need to have quick ramp up and ramp down energy sources for grid balancing, the minister described hydroelectric power's role as essential in the path to energy transition as wind energy is intermittent and the sun doesn't shine 24×7.
Zoomed Out | Critical Minerals — why India's current strategy to become self-reliant is so vital
Zoomed Out | Critical Minerals — why India's current strategy to become self-reliant is so vital
Nov 29, 2023
Internationally, there are genuine security concerns related to the criticality in building more diverse and dependable value chains for critical minerals, about their environmental and social sustainability, and technological challenges. While, India has taken the right steps for creating an ecosystem for accelerated exploration and production of critical and new age minerals, observes FICCI Mining Committee Co-Chair Pankaj Satija.
Copyright 2023-2025 - www.financetom.com All Rights Reserved