Thursday 16 April 2020

Bank of America CEO: Don't reopen US yet

Bank of America CEO: Don't reopen US 'until we know it's going to be stable'

Bank of America CEO Brian Moynihan on Wednesday warned against moving too swiftly to 
reopen the United States economy, saying that the decision should only be made after 
businesses know a return to work will be "stable."

"We'll bring people back — first, when we're allowed to — but we'll also bring people back on 
a view that we don't want to change course of action until we know it's going to be stable," 
Moynihan said on a press call to discuss the bank's latest earnings report. "Once we got the 
people here, we actually have the luxury to hold off longer."

President Trump on Tuesday tapped Moynihan as a member of the administration's advisory 
committee to reopen the economy. The panel includes leaders in agriculture, banking, tech 
and sports sectors, among others.

Moynihan asserted in the press call that Trump and his administration should continue to 
prioritize the health of the nation over the economy. He said right now priorities should be on 
protecting health care workers "fighting the war" on the front lines against the virus and 
administering financial assistance to workers who have lost jobs amid the coronavirus 

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