Bank of America CEO Brian Moynihan says U.S. consumer spending 'very strong' in February

Moynihan told CNBC's Jim Cramer on Wednesday that spending on Bank of America cards has jumped up to 20% from last year.

While there was concern that consumer bank account balances would plunge after government stimulus programs ended, that hasn't been the case yet, Moynihan said. Instead, balances have risen for the "last six or seven months," according to the CEO.Bank Of America CEO Brian Moynihan is interviewed by Jack Otter during "Barron's Roundtable" at Fox Business Network Studios on January 09, 2020 in New York City.U.S.

While there was concern that consumer bank account balances would plunge after government stimulus programs ended, that hasn't been the case yet, Moynihan said. Instead, balances have risen for the "last six or seven months," according to the CEO.

jimcramer easy to spend someone elses money. Lets see if they actually pay back with this new dynamic in place. Doubt it. Curtains.

jimcramer $AGIO AgiosPharma 1.4 Billion in Cash a drug that’s also in 3 Other trials as well this drug is a blockbuster drug and have a priority voucher to sell, giving the company additional 100 million in cash plus drug sales starts in 2 weeks $SPY $XBI $SPX

jimcramer It will continue unless he has his income increasing 20%

jimcramer Oh so taking on credit card debt is a good thin?

jimcramer Cramer is a shameless toady whose job is to jawbone markets higher. Fraud!

jimcramer And we are back to racking up credit card debt

jimcramer “Consumers have had to resort to credit card usage as inflation skyrockets putting consumers at risk of predatory banks” - Fixed the headline for you 👍

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