A view on the U.S. economy, from a bank as old as the country

IN AN ERA WHEN THE AVERAGE CEO’S TENURE IS shrinking, Brian Moynihan has led Bank of America for 17 years.

- BY SAM JACOBS

Bank of America's Moynihan, left, talks to TIME editor-inchief Sam Jacobs

We recently sat down with the financial-services leader on the top floor of Bank of America Tower in New York City as part of a new video interview series, The CEO Moment. From his vantage point, Moynihan has a unique view of the U.S. economy. He spoke with us about the health of the American consumer, the lessons he learned working in the sewers early as a summer job, and how he managed to fire himself.

Americans say that affordability is their biggest concern. What do you see? We see the consumer continuing to spend. They are concerned about prices or concerned about affordability, but they’re still spending money.