Bank of America CEO Sees Improving GDP Outlook, Resilient Consumer Spending

Moynihan Cites Constructive U.S. Backdrop, Strong Corporate Activity at BAC Conference

Published on Feb. 17, 2026

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Bank of America CEO Brian Moynihan said he sees a constructive U.S. economic backdrop taking shape, with GDP expectations building, consumer spending remaining resilient, and corporate activity like IPOs and deals staying strong. Moynihan made the remarks during a keynote discussion at Bank of America's 34th Annual Financial Services Conference.

Why it matters

Moynihan's positive outlook on the U.S. economy and consumer spending provides insight into the health of the banking industry and broader economic trends. As one of the largest financial institutions, Bank of America's internal data and CEO perspective offer a unique window into macroeconomic conditions.

The details

Moynihan described a shifting macro narrative, noting that optimism after the election gave way to uncertainty tied to early-year policy changes before estimates moved higher again. He said Bank of America's research team now has 2026 GDP around 2.8%, emphasizing the pace of upward revisions. Moynihan also cited enthusiasm around tax policy and deregulation, as well as resilient consumer spending growth across income cohorts based on the bank's internal data.

  • Moynihan made the remarks during a keynote discussion at Bank of America's 34th Annual Financial Services Conference on February 16, 2026.

The players

Brian Moynihan

The CEO of Bank of America, a multinational financial services company headquartered in Charlotte, North Carolina.

Bank of America

A multinational financial services company that provides a broad array of banking, investment, asset management and related financial and risk management products and services.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

The takeaway

Moynihan's positive outlook on the U.S. economy and consumer spending suggests the banking industry is well-positioned for continued growth, though concerns around affordability and regulatory oversight remain important considerations.