Bank of America Corporation (BAC-PO)

BofA CEO: National debt is something to be concerned about

The International Monetary Fund warned in its latest economic outlook that when it comes the US national debt, "Something will have to give." Bank of America CEO Brian Moynihan (BAC) tells Yahoo Finance Executive Editor Brian Sozzi that though the US did need to spend a lot to keep the economy churning during the pandemic, in better times "you have to have more discipline." "The financial strength of the US is one of the beacons of the world," Moynihan says, "but you got to take care of that. One of the parts of taking care of that is making sure the government's budget stays in line with the economy." He adds that it's not something that alarms need to be raised about yet, but a it is something that needs to be managed over time. Click here to watch the full interview with Bank of America CEO Brian Moynihan. This post was written by Stephanie Mikulich.