Providence Chamber Dinner Features Bank of America CEO Moynihan

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Tuesday, November 23, 2010

GoLocalProv Business Team

In front of nearly a 1,000 business and community leaders, Bank of America CEO Brian Moynihan outlined a tempered level of optimism for the future of the Rhode Island and national economy.  Moynihan, a Brown University grad, former Edwards and Angell partner, and Fleet Bank executive, articulated that the economy was in a growth pattern.  He presented that the US economy is now in a 2% growth rate and while there are still many challenges including the residential home market, personal debt and congressional uncertainty, he was optimistic that there would not be a double-dip recession.

Governor-elect Lincoln Chafee also gave remarks focusing on the benefits of the combined sewer over-flow system to the state's infrastructure.  Mayor-elect Angel Taveras that Providence is critical to the state's economy, "Providence is the heart of Rhode Island and it is critical to have a health heart."

Steve Lane, CEO of Ximedica announced a major business competition program with an estimated $500,000 pool to launch in the spring.

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