Bank of America CEO: Fed Has to Tighten to Fix Too Much Stimulus, We'll Have Recession in 2023 and Housing Market Downturn for 2 Years

On Tuesday's broadcast of "CNN This Morning," Bank of America CEO Brian Moynihan stated that there was too much COVID stimulus, and "Now, we have to adjust to that decision. And that's why you're seeing the Fed tighten quick." Moynihan also said 2023 will see a "mild" recession and the housing market will "take almost two years" to adjust.