US consumer spending and business optimism remains strong in the United States despite disruption in the global economy because of trade disputes and the US government shutdown, Bank of America (NYSE:BAC) CEO Brian Moynihan said Thursday.
“Based on experts and consumer activity (this month), it looks like a solid year for the US, though less growth than last year,” Mr. Moynihan told a panel discussion at the World Economic Forum (WEF) in Davos, Switzerland.
David Rubenstein, co-ECoB of Carlyle Group (NYSE:CG), told the same panel that if the shutdown continued much longer, it could “really impair the economy of the United States.”
Mr. Rubenstein also said Britain’s decision to exit the EU is still a cause for concern, with uncertainty over the ripple effects on the global economy.
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