In a week of high turbulence in the US economy and market jitters, Bank of America CEO Brian Moynihan urged the Federal Reserve to cut interest rates to ease pressure on US consumers. “They have to be more cautious than the downside of not starting to lower prices to restore a sense that, you know, there is light at the end of the tunnel,” he said in an interview on “Face the Nation with Margaret” Brennan.” “They’ve told people that prices probably won’t go up, but if they don’t start bringing them down relatively soon, you could disrupt the American consumer.”
