More than 70000 BofA employees have informed the bank of their vaccination status; bank of AmericaCEO expects the US labor market to be tight.
Bank of America expects all COVID-19-vaccinated employees to return to the office after Labor Day in early September, after which it will develop a plan to allow unvaccinated employees to return to their offices.
Bank of America CEO Brian Moynihan said in an interview with Bloomberg Television on Thursday that more than 70000 employees voluntarily disclosed vaccination status to the bank. BofA, which employs 210000 people around the world, has invited vaccinated people to return to their offices.
Inflation expectation
Moynihan said in an interview that it was not clear whether the signs of a rebound in inflation were temporary.
"the job market is expected to start to tighten, and we saw an accelerated rebound in loan demand in April-June, which is better than it was last fall or early spring," he said. "
He believes that about 70% of the bailout checks consumers receive from the government are unspent, which will be one of the factors determining whether inflation continues to rise. BofA's small business clients face difficulties in hiring, wage growth will be "more sticky" and consumer spending will be 20 per cent higher than it was before the outbreak.
On the outlook for BofA's trading business, Moynihan said its performance was "not going to be much different" from its competitors, who in recent days expected revenues to fall from the trading boom brought about by the epidemic.