Bank of America (BAC) CEO Brian Moynihan says the Federal Reserve “has won” against inflation, but pressures like the strength of the US consumer may keep interest rates higher for longer.

Speaking at a luncheon hosted by the Economic Club of New York on Wednesday, Moynihan said the Federal Reserve needed to tame inflation by slowing the spending pace of the US consumer—and according to the bank's own data, that strategy has worked.

READ MORE: Stocks seesaw as yields continue climb, oil hits fresh highs: Stock market news today

Bank of America Corp. Chief Executive Officer Brian Moynihan said his firm’s strategists are still expecting a soft landing for the US economy rather than a recession, a prediction spurred by continued strength in consumer spending.

“We won’t have a recession,” Moynihan said Wednesday at a lunch hosted by the Economic Club of New York, noting that consumer spending has softened since earlier this year but remains strong, and that Bank of America customer savings continue to be robust as well.

READ MORE: Bank of America CEO Says Soft-Landing Projection Spurred By Strong Consumer

"Bank of America (NYSE:)'s CEO Brian Moynihan, on Wednesday, forecasted a soft landing for the US economy at a New York Economic Club event. His prediction is based on robust consumer spending and increased customer savings..."

READ MORE: Bank of America forecasts soft landing for US economy, despite inflation concerns

"While consumer spending growth has slowed from a year earlier the economy is headed toward a soft landing in which it avoids a recession, Moynihan told the Economic Club of New York."

READ MORE: Bank of America CEO says Fed has won the near-term battle against inflation

ECNY: Signature Luncheon

Join us as Brian Moynihan will dive into the future of banking, the economy, the impact of technology on finance, and more.

“I would urge you to evaluate what we are doing in my country, look at the underlying strength of our economy and our plans for the future and then invest in Japan,” Kishida said in a recent speech at the Economic Club of New York.

READ MORE: Japan’s prime minister Kishida says: ‘reassess our economy’

“We will push hard to encourage sophisticated asset management and to solicit new entrants,” Kishida said in a speech at the Economic Club of New York, in late September.

READ MORE: Japan government sweeteners aim to attract investors

REUTERS:

Japanese Prime Minister Fumio Kishida said on Thursday that his government will not rule out any options in addressing excessive volatility in the foreign exchange market.

"It is important that exchange rates move stably, reflecting the fundamentals," Kishida said in a question and answer session at the Economic Club of New York that was broadcast online.

READ MORE: Japan will not rule out any options against forex volatility - PM Kishida

"We will push hard to encourage sophisticated asset management and to solicit new entrants," Kishida said in a speech at the Economic Club of New York that was also broadcast online.

READ MORE: Japan's Kishida seeks to shake up to $5 trillion asset management industry

NASDAQ:

Sept 21 (Reuters) - Japanese Prime Minister Fumio Kishida aims to spur competition in the country's $5 trillion asset management industry by prompting new market entrants to turn dormant household savings into investments, he told investors in New York.

The Japanese government is reviving its decades-old policy pledge to move 2,000 trillion yen ($13.48 trillion) of household financial assets into investment, as half of such assets are sitting in cash or bank deposits.

"We will push hard to encourage sophisticated asset management and to solicit new entrants," Kishida said in a speech at the Economic Club of New York that was also broadcast.

READ MORE: Japan's Kishida seeks to shake up to $5 trillion asset management industry

ECNY: Signature Luncheon

Join us as we host the Prime Minister of Japan, The Honorable Fumio Kishida. PM will share insight on how Japan is unleashing its economic potential and more.

REUTERS: 

NEW YORK, Sept 14 (Reuters) - UBS Group (UBSG.S) CEO Sergio Ermotti plans to stay at the helm through 2026 to integrate former rival Credit Suisse in a process he likened to a marathon.

"I need to finish the job," Ermotti told the Economic Club of New York on Thursday. "My commitment is to finish the job, and for sure that means staying through the end of 2026. I can't be already thinking about where I would go three months after starting."

READ MORE: UBS CEO committed to staying at the helm through 2026

ECNY: Signature Luncheon

Join Us as Sergio Ermotti will discuss key economic trends, emerging challenges, and potential opportunities for busenesses in the current economic climate and the company's recent acquisition of Credit Suisse. With moderator Sara Eisen, Co-Anchor of CNBC's Squawk on the Street.

REUTERS: 

Sept 11 (Reuters) - U.S. Deputy Treasury Secretary Wally Adeyemo on Monday said he was encouraged U.S. banks had not curtailed lending as much as feared after the banking issues seen earlier this year.

Adeyemo told an event hosted by the Economic Club of New York there had been some consolidation in the U.S. banking system after the failures of several banks in late winter and early spring, but no significant pullback in credit.

READ MORE: Treasury's Adeyemo: Encouraged we have not seen expected credit pullback

U.S. NEWS & WORLD REPORT: 

The United States should think about eliminating corporate subsidies, including to energy companies, U.S. Deputy Treasury Secretary Wally Adeyemo said in New York on Monday.

Adeyemo defended President Joe Biden's budget proposal for fiscal 2024, noting that achieving fiscal sustainability would include modest tax increases, boosting tax revenue collections and finding other ways to cut costs.

"We want to be sure we have the money to pay for our priorities," he told the Economic Club of New York.


READ MORE: Treasury's Adeyemo Calls for Eliminating Subsidies, Including to Energy Companies

REUTERS: 

The United States should think about eliminating corporate subsidies, including to energy companies, U.S. Deputy Treasury Secretary Wally Adeyemo said in New York on Monday.

Adeyemo defended President Joe Biden's budget proposal for fiscal 2024, noting that achieving fiscal sustainability would include modest tax increases, boosting tax revenue collections and finding other ways to cut costs.

"We want to be sure we have the money to pay for our priorities," he told the Economic Club of New York.

READ MORE: Treasury's Adeyemo calls for eliminating subsidies, including to energy companies

NASDAQ: 

"The United States is well-positioned to withstand the Chinese headwinds, but the places where you have to be concerned about are their neighbors, countries in Asia, but also a number of countries that have borrowed from China," Adeyemo told a separate event at the Economic Club of New York. He said the U.S. government was paying close attention to the developments.

READ MORE: China's economic headwinds could hit region, US Treasury deputy says

REUTERS: 

Adeyemo, in remarks prepared for an Economic Club of New York luncheon, said President Joe Biden's economic policies had helped the U.S. economy weather the COVID-19 pandemic and Russia's invasion of Ukraine better than any other advanced economy, with lower rates of inflation.


READ MORE: Treasury's Adeyemo, in New York, says tackling rural economic inequality essential

FX STREET: 

The US Deputy Treasury Secretary Wally Adeyemo, expressed optimism on Monday that US banks had not curtailed lending as much as expected since financial issues were seen earlier this year, per Reuters.

Adeyemo said at an Economic Club of New York event that the US banking industry had undergone considerable consolidation following the bankruptcy of numerous banks in late winter and early spring, but there had been no significant pullback in credit.

READ MORE: US Treasury's Adeyemo: There had been no significant credit pullback

BLOOMBERG: 

While the US economy is performing better than expected, “the last thing we need is the headwind of a government shutdown,” Deputy Secretary Wally Adeyemo said Monday at an event hosted by the Economic Club of New York. “Lots of people don’t get paid” if there is shutdown, he added.

READ MORE: A Government Shutdown Is ‘Last Thing’ US Economy Needs, Treasury’s Adeyemo Says