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'

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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 

pandemic.