Bank of America CFO says Fed seems to be winning inflation battle

(Reuters) – The Federal Reserve seems to be winning the inflation battle in the United States, Bank of America CFO Alastair Borthwick said at a conference on Wednesday.

“The Fed winning the inflation battle is important for the economy. It appears they are winning that battle,” he said.

His comments came days after the U.S. central bank cut interest rates by 50 basis points.

(Reporting by Manya Saini and Niket Nishant in Bengaluru; Editing by Devika Syamnath)