Bank of America CEO Brian Moynihan warns to prepare for a US debt default and a recession

MarketsInsider/Jennifer Sor/2-7-2023

“We have to be prepared for that, not only in this country but in other countries around the world,” [Bank of America’s CEO Brian]Moynihan warned. “You hope it doesn’t happen, but hope is not a strategy – so you prepare for it.”

USAGOLD note: This time around cooler heads might not prevail,  though Congress in the past has never been willing to put the US credit rating on the line. The concern is that the animosity between the political parties is so deep that the politicians will throw caution to the wind.