Bank of America’s research team has raised its 2026 GDP forecast to approximately 2.8%, reflecting a notable upward revision over recent months. CEO Brian Moynihan highlighted that internal transaction data show consumer spending up about 5% in January versus the prior year, with increases across low-, middle- and high-wage cohorts, underpinned by a steady labor market and broader economic optimism.

Moynihan described the regulatory landscape as normalizing after years of incremental tightening, noting that current leadership is conducting cost-benefit analyses to ensure durable changes. He expects constructive outcomes from upcoming G-SIB recalibration and Basel-related proposals, even as implicit capital requirements have risen roughly 20% from 2019 to 2024.

The bank reaffirmed a target return on tangible common equity of 16%–18% to be achieved within 8–12 quarters, alongside projected net interest income growth of 5%–7% and operating leverage of 200–300 basis points. These targets are supported by mid-single-digit loan growth and 2%–3% deposit growth assumptions in a context of steady economic and inflationary trends.

Bank of America maintained headcount near 213,000 at January-end while increasing technology spending by approximately $2 billion annually since 2015. Moynihan emphasized cost discipline, consumer affordability measures—such as lower overdraft thresholds and a low-cost credit card—and strategic branch and staffing realignments to drive efficiency and client primacy.