Bank of America Corporation (BAC) Goldman Sachs 2025 U.S. Financial Services Conference December 10, 2025 3:00 PM EST
Company Participants
Brian Moynihan – Chairman & CEO
Conference Call Participants
Richard Ramsden – Goldman Sachs Group, Inc., Research Division
Presentation
Richard Ramsden
Goldman Sachs Group, Inc., Research Division
Okay. If everybody could take their seats, we are going to get started with what is going to be the final presentation at this conference. I do think we have kept the best till last.
So Brian, thank you very, very much for joining us. It is actually the 16th consecutive year. That is definitely a record. So thank you very, very much. I look exactly the same as I did 16 years ago. So do you. You actually look younger anyway.
Question-and-Answer Session
Richard Ramsden
Goldman Sachs Group, Inc., Research Division
So let’s start off with just your take on the macroeconomic backdrop. We’ve obviously just had the Fed just came out. But I’m curious about how you’re thinking about the path for the economy next year. What you’re seeing in terms of consumer and corporate engagement heading into 2026?
And I think you have some of the best spending data, and I think you do some of the best analytics around it. What have you seen over the fourth quarter? And what does that tell you about the outlook for next year?
Brian Moynihan
Chairman & CEO
Well, so thanks, Rich, for having me. The first thing is our team had the Fed cutting rates today. So I guess they got that one right. I think it’s a little surprised about the dot plots and what happens next year.
But if you look at — our team has the economy in the U.S. growing 2.4% or so next year, that from this time last year
