By HARRIET ALEXANDER
The CEO of Bank of America said the recent debate over whether the U.S. economy is technically in a recession or not is missing the point, condemning the Biden administration for arguing over semantics and failing to comprehend the real pressures people felt.
Brian Moynihan, head of the bank – one of the world’s largest financial institutions – spoke as stocks fell sharply on Wednesday, as drops by big technology companies wiped out the S&P 500’s gains for the week.
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