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Fortune
Fortune
Jason Ma

‘We’ve gotten out of whack’ by fixating so much on Fed rates, but the loss of its independence will be punished, BofA CEO Brian Moynihan says

US Federal Reserve Brian Moynihan Donald Trump Jerome Powell Capital Economics
(Credit: Chris J. Ratcliffe—Bloomberg/Getty Images)

Bank of America CEO Brian Moynihan pointed out that the U.S. economy is much bigger than the Federal Reserve, which shouldn’t merit so much attention.

In an interview with CBS News’ Face the Nation that aired Sunday, he was asked about President Donald Trump’s upcoming nomination of a new Fed chair to replace Jerome Powell and what it means for consumers.

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