The pillar of the US economy is on the brink of collapse! Bank of America calls on the Fed to cut interest rates as soon as possible: Don't let consumers lose heart. Recently, with the intensification of market volatility and consumers holding their wallets tightly in a high interest rate environment, more and more voices are calling on the Fed to cut interest rates as soon as possible. Bank of America CEO Brian Moynihan warned on Sunday that American consumers may feel frustrated if the Federal Reserve does not start cutting interest rates soon.