Global Finance Watch: Bank Chiefs Signal Economic Deceleration as Consumer Spending Wanes
The financial landscape is shifting as central U.S. banks report a noticeable cooling in consumer spending, marking a significant change from the robust growth witnessed in the aftermath of the pandemic. This development comes against the Federal Reserve's ongoing efforts to combat inflation through interest rate hikes. Bank of America, a key player in the consumer banking sector, has observed a marked slowdown in its card volume growth. CEO...