Connect with us

top4

JPMorgan CEO Jamie Dimon Says ‘Powerful Forces’ Threaten U.S. Economy

Published

on

#JPMorgan #CEO #Jamie #Dimon #Highly effective #Forces #Threaten #Economic system

JPMorgan Chase & Co.’s pandemic growth ended with a 42% drop in earnings and a warning: Rising inflation and the war in Ukraine pose large threats to the U.S. financial system.

Chief Govt Jamie Dimon stated the financial system is powerful and rising, citing double-digit development in card spending, low delinquencies and wholesome family and client steadiness sheets. However the financial institution shocked Wall Road by setting apart $900 million in new funds to arrange for financial turmoil; a year ago, it freed up $5.2 billion it had reserved for potential mortgage losses within the pandemic’s early months.