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Big bank earnings show consumers may be losing spending steam

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Bank Of America News

Consumer Spending,Morgan Stanley,Earnings Reports

In the wake of earnings reports from major banks like Bank of America (BAC) and Morgan Stanley (MS), a mixed picture is emerging about the state of consumer ...

Bank of America, for instance, reported that its net charge-offs — debts unlikely to be recovered — rose to $1.5 billion year over year, up from $807 million in the prior-year period. At the same time,These figures raise concerns about whether consumers can sustain their current spending habits in an inflationary environment.

Trump says $175 million bond is financially secure, asks judge to reject New York attorney general’s challenge Canada's inflation rate ticks up to 2.9% in March amid higher gas prices, boosting June rate-cut bets

 

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