Bank of America Chairman and CEO Brian Moynihan shared his views on the company’s stock rally and rising interest rates in an exclusive interview Tuesday on CNBC’s ” Squawk Box. ”
The bank’s shares are up 35 percent since the Nov. 8 election versus the S&P 500’s 6 percent return through Friday.
On Bank of America’s stock rally: “The idea [is] there could be more growth,” Moynihan said. “You take improving operating performance, the past legacy issues way behind you, and on top of that the prospect of rates going up. ”
On interest rates: “You want rates to rise for the right reason,” he said. “It’s for the right reasons. There’s good demand. Wages are rising in America. The economy is growing in America. … If you had it because of a wrong reason, inflation got out of control or things like that. That would be concerning, but right now I think we’re a long way from that. ”
In the interview at the World Economic Forum at Davos, Switzerland, he also discussed:
To watch the broadcast interview in its entirety, you must be a CNBC PRO subscriber.
