Bank of America Corp.'s CEO, Brian Moynihan, believes that the United States' focus on Federal Reserve rate changes has diverted attention from the significant impact of the private sector on the economy. Amidst mounting political pressure impacting the central bank's independence, Moynihan emphasized that the U.S. economy surpasses the influence of the Federal Reserve. During an interview on CBS News' Face the Nation, Moynihan expressed concern over the excessive emphasis placed on minor rate adjustments, stating that Americans should not view these changes as pivotal moments. He highlighted the need to shift away from the excessive fixation on the Federal Reserve, cautioning against viewing the country's stability as solely dependent on slight rate movements. For further details, refer to the complete story on Benzinga.com.