Washington Faces Economic Challenges as New Year Approaches

WASHINGTON, D.C. — As 2025 comes to a close, CBS’s “Face the Nation” with Margaret Brennan examines the economic landscape as the nation looks toward 2026. The program features insights from various experts, including Brian Moynihan, CEO of Bank of America, who discusses consumer spending and economic trends.

Moynihan reports that while consumer sentiment is low due to rising inflation, spending remains consistent. “People are spending reasonably solid,” he states. He notes that many low-income consumers are adjusting their spending habits, but those in higher income brackets continue to show more robust economic engagement.

Discussing holiday spending, Moynihan mentions a 4% increase in spending this November compared to last year. He emphasizes that while inflation affects consumer perceptions, overall spending patterns do not align with these sentiments. “Inflation is on people’s minds, but spending is still growing,” he explains.

On the topic of national security, CBS contributors Samantha Vinograd and Chris Krebs address the implications of artificial intelligence. Krebs, a former director of the Cybersecurity and Infrastructure Security Agency, highlights challenges posed by rapidly advancing technology and its influence on both the economy and security protocols.

Vinograd shares concerns about AI’s threats, noting it allows bad actors to impersonate individuals or bypass security measures, thus complicating national safety. As we approach significant events in 2026, including the FIFA World Cup and the Super Bowl, both experts express the necessity of boosting cybersecurity measures.

Notably, Brennan encourages dialogue on the intersections of economic realities and security in the upcoming year. She highlights the need for innovative solutions to combat the ever-evolving risks posed by technological advancements.

Wrapping up the episode, Brennan and her guests discuss the importance of maintaining a stable economic framework while addressing national security in a rapidly changing world.

As 2026 approaches, the conversation continues around how the American economy will adapt and what measures will be taken to ensure the security of the nation.