One of America’s largest banks says the U.S. economy could be stronger than many investors expect and suggests Wall Street may be underestimating growth potential under current economic policies.
Bank of America (BofA) raised its 2026 GDP growth forecast from 2.6% to 2.8%, striking a bullish tone well above market consensus.
CEO Brian Moynihan outlined the upgraded outlook in a Monday interview with FOX Business’ Maria Bartiromo in Davos, Switzerland.
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"What’s behind that move is a belief that there are more good things happening in the U.S. economy in 2026 than we thought earlier this year," Moynihan said.
"So we moved from 2.6% growth to 2.8%, which is well above the general consensus."
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Moynihan said while the outlook reflects a generally positive view from the bank’s research team, he emphasized that client activity also influences the firm’s economic perspective.
He noted early January spending and seasonal patterns have shown signs of strength, reflecting resilient consumer behavior.
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He added that credit conditions and earnings results among large banks have been solid, which he interpreted as supportive of economic growth prospects in 2026.