0101 GMT - Bank of America CEO Brian Moynihan is bullish on the U.S. economy, saying the bank expects GDP to grow at a clip of 2.8% in 2026, above consensus views for 2.1%. BofA's economic research team raised its forecast to reflect consumer spending, wage growth and tax bill stimulus, he tells the WSJ Leadership Institute at Davos, Switzerland. "And then you have on the business side you have bonus depreciation and others things made permanent so people can go and plan on it," the CEO says. Then there's AI buildout, reshoring and lower interest rates--add all that up and it's a lot, he says. People always talk about what the Fed will do next, but seem to forget that it has cut rates, and the benefit of that will be seen this year. (fabiana.negrinochoa@wsj.com)

(END) Dow Jones Newswires

0310 GMT - Lower immigration is starting to concern U.S. businesses, Bank of America CEO Brian Moynihan tells the WSJ Leadership Institute at Davos, Switzerland. Companies need labor to do construction work, manufacturing work, retailing work, and to work in hotels and restaurants--those are all important for the economy, the bank's CEO says. "When you talk to our small businesses, they're a little more worried about labor availability. And so the administration has to figure out how to satisfy that group," he says. Manufacturing repatriation and construction buildout efforts aim to spur companies to hire underemployed or unemployed people to re-train them and bring them in. Moynihan expects "a bit of a tug of war for the next 24 months" over immigration.(fabiana.negrinochoa@wsj.com)

(END) Dow Jones Newswires

January 22, 2026 22:10 ET (03:10 GMT)

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