Bank of America CEO Brian Moynihan said that even with high interest rates, American consumers are still in a good state thanks to wage growth, and companies are once again looking for mergers and acquisitions. Moynihan said on Monday that consumer spending increased 3% to 4% year over year in May. He said that this growth is in line with the environment where economic growth is slowing down and the inflation rate is slowing down, but it is still a positive factor for the US economy because people continue to increase spending. “This shows the resilience of American consumers,” Moynihan said at the French Business Summit in Versailles. “There may be hundreds of problems tomorrow, but everything is fine right now.”