Brian Moynihan Back To Being Brian Moynihan - Dealbreaker

Everyone’s favorite hapless Irish dad bank CEO, after three whole months of feeling like one of those real bank CEOs—you know, the ones who get talk about 55% increases in trading revenue and running for president—is back to being a hapless Irish dad once again.

The second-largest U.S. bank by assets said Wednesday it earned $6.99 billion in the quarter, down from $7.28 billion a year earlier…. The drop in profit and revenue reflect how banks must accommodate after enjoying a short-lived period of higher interest rates that boosted their lending margins.

What Jay Powell giveth, he can also taketh away.

Bank of America Earnings Slip Amid Lower Rates [WSJ]