“Both of our customer bases that have a lot to do with how the American economy runs are saying, ‘You know what? I’m being careful, slowing things down.’”

Bank of America CEO Brian Moynihan said that his customers are slowing down the rate of their purchases. Consumer payments, as measured through credit cards, checks and ATM withdrawals, have grown by 3.5 percent since last year, he said. That’s down from 10 percent growth the year before. Read the CNN article, “Even High-Income Americans Are Shopping More at Discount Retailers.”