CHARLOTTE, N.C. -- The CEO of Bank of America gave some blunt talk during an economic outlook conference in Charlotte Wednesday.

The meeting, hosted by the Chamber of Commerce, came amid CNBC reports that 30,000 jobs could be cut with a Bank of America/Merrill Lynch merger.

"To be blunt, times are really tough, and we don't see any short-term rays of sunshine," said Bank of America CEO Ken Lewis. "If someone had told me that ... and said things will be worse in December 2008 than they are now, in December 2007, I would've thought the person was half-crazy."

Lewis did not address the CNBC reports.

Experts predict the jobs would likely come from the Merrill Lynch side.

Local leaders say that it's still too early to speculate about possible layoffs.

"Yes, there will be pain in the short term," said Chamber of Commerce President Bob Morgan. "The key now for the Charlotte economy is for the national economy to find its bottom and to begin to rebound. And when that happens, Charlotte is well-positioned for the opportunities to come."

Bank of America says it will be early next year before layoff plans are finalized.