What Bank of America's CEO Says About Inflation and Consumer Spending -- And Why You Should Care

In an interview with CNBC this week, Bank of America (NYSE: BAC) CEO Brian Moynihan discussed what he's seeing through the lens of one of the biggest banks in America. Moynihan pointed out a shift in consumer spending trends that could help relieve inflationary pressures in some parts of the economy -- but expressed concerns about one factor that could keep inflation elevated going forward. As CEO of Bank of America, Moynihanis in a position where he can get a feel for consumer's outlook by studying their banking activity.