Moving with caution: U.S. consumers and businesses alike have turned cautious about spending this year because of elevated inflation and interest rates, according to Bank of America CEO Brian Moynihan. Whether it’s households or small- to medium-sized businesses, Bank of America clients are slowing down the rate of purchases made for everything from hard goods to software, Moynihan said at a conference on Thursday. Read more from CNBC.
Politicians speak out: The reactions by Louisiana politicians to the landmark jury verdict against former President Donald Trump were largely predictable, with many in Trump’s camp decrying the guilty verdict as a “disgrace,” as well as calling the trial rigged. See a roundup of Louisiana elected officials’ reactions from WBRZ-TV.
Adjusting expectations: Analysts have lowered their 2024 oil price forecast, reflecting lower risks to supply from ongoing wars in the Middle East and Ukraine. A poll of 41 analysts and economists in the last two weeks saw Brent crude averaging $84.01 per barrel in 2024 with U.S. crude at $79.56—down from April forecasts of $84.62 and $80.46, respectively. Read more from Reuters.
