UPDATE: In a crucial appearance on “Face the Nation” on December 28, 2025, Bank of America CEO Brian Moynihan delivered a compelling economic forecast for 2026, addressing critical issues affecting American consumers. Moynihan’s insights come as the nation grapples with lingering effects from inflation and job market shifts, making this analysis urgent for viewers and policymakers alike.
During the broadcast, hosted by Margaret Brennan, Moynihan revealed that while many Americans struggle with affordability, spending trends indicate a complex economic landscape. “Our CBS polling shows most Americans find holiday items hard to afford,” Brennan stated, emphasizing the financial strain felt by countless households. Moynihan confirmed this sentiment, noting that while lower-income consumers are feeling the pinch, higher-income brackets continue to drive spending growth. He stated, “People in the bottom income level are spending at a little faster growth rate, but still growing.”
The Bank of America chief highlighted a significant 4.5 percent increase in consumer spending during the holiday season compared to last year, suggesting resilience in the economy despite prevalent inflation concerns. “Wages have grown, but inflation bothers people,” Moynihan explained, pointing to a 3 percent increase in wages as a silver lining amidst economic challenges.
As the discussion shifted to national security, Brennan engaged former Homeland Security officials Samantha Vinograd and Christopher Krebs on the rising threats posed by artificial intelligence (AI). “AI is not just an app; it’s reshaping how we operate in every sector,” Krebs warned, identifying the technology’s dual nature as both a tool for efficiency and a catalyst for new vulnerabilities.
With the upcoming year poised to witness major events, such as the FIFA World Cup and the United States’ 250th anniversary, Vinograd raised alarms regarding potential threats linked to increased mass gatherings. “There are always threats facing the homeland, and we risk becoming more vulnerable to successful attacks,” she cautioned.
As Americans look to 2026, significant changes in immigration policy, economic stability, and cybersecurity will shape the political landscape. Moynihan emphasized the need for clarity on labor availability for small businesses, indicating that the government’s immigration policies need a definitive approach to ensure economic growth.
In a closing segment, Brennan facilitated a roundtable discussion with CBS News correspondents, highlighting the emotional toll these economic and security issues take on everyday Americans. The urgency of these discussions underscores the pressing need for effective solutions as the nation heads into a new year filled with uncertainties.
For those seeking a comprehensive understanding of the economic and security landscape, the full interview is available on CBS News platforms, providing critical insights into the trends that will define 2026.