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At the Forbes Iconoclast Summit in New York on June 3, 2026, Bank of America Chair and CEO Brian Moynihan told Forbes Editor-at-Large Maneet Ahuja that the American consumer is more resilient than many headline writers expect. The comments landed at a gathering of market leaders weighing how the economy and technology are reshaping opportunity in the years ahead.
Moynihan pointed to steady employment and continued spending as concrete evidence that families are adapting to higher prices instead of retreating from the marketplace. He stressed that people are employed and choosing to spend, which in his view signals durable strength beneath the noise of doom-saying pundits.
Good — let the coastal elites and algorithmed commentators wring their hands while Americans get back to work. The true engine of this country remains the grit of small-business owners, factory workers and parents who make sacrifices and stretch every dollar to keep their households afloat.
Moynihan also talked about how Bank of America is deploying artificial intelligence across operations while insisting that human oversight and accuracy must remain central to financial services. That cautious embrace of innovation is what private enterprise does best: adopt new tools responsibly while protecting customers from sloppy technocratic experiments.
None of this means we should be complacent — resilience today doesn’t erase the damage of inflation, higher borrowing costs, and bloated spending in Washington that put pressure on ordinary Americans. Much of the consumer’s ability to keep spending comes from pandemic-era savings and a tight job market that has so far sheltered families from a worse outcome; policymakers should not mistake a temporary footing for permanent safety.
If Washington truly wants to fortify that resilience, it will stop punishing work with higher taxes and suffocating regulations and instead pursue pro-growth policies that reward productivity, savings and family stability. The media will debate whether we’re facing a soft landing or a downturn, but the sober truth is simple: America keeps moving because Americans refuse to quit, and that stubborn, hopeful determination deserves our defense and our support.
