Despite some easing concern about an economic slowdown, the U.S. bank chiefs said they were managing head count to constrain costs
, Brian Moynihan, cited resilient consumer finances and spending as positive signs. But both leaders cited risks to the economy, including inflation, and said they would keep a lid on hiring this year to constrain costs.
At a separate event, Bank of America’s CEO reiterated what he has been saying for months – that consumer spending remains robust and is underpinning the economy. Despite some easing concern about an economic slowdown, the bank chiefs said they were managing head count to constrain costs. Goldman cut about 3,200 staff, or 6 per cent of its work force, last month.
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