Bank of America CEO Brian Moynihan says inflation signs are 'tipping down,' but there's still a mild recession headed for the US economy

• Bank of America's CEO predicted the US economy will fall into a "slight recession."
• Brian Moynihan told investors that he sees signs of inflation "tipping down" during an earnings call.
• "Everything points to a relatively mild recession given the amount of stimulus that was paid to people and the money they have left over."

Bank of America CEO Brian Moynihan said inflation is showing signs of cooling, but the US economy will still face a recession.

During the firm's quarterly earnings call, the Wall Street exec predicted a slight downturn as consumers remain in good shape.