Jamie Dimon, Chairman of the Board and Chief Government Officer of JPMorgan Chase & Co., gestures as he speaks throughout an interview with Reuters in Miami, Florida, U.S., February 8, 2023.
Marco Bello | Reuters
Past the navy conflicts, Dimon cited the burgeoning nationwide debt and “the most important peacetime fiscal deficits ever” that he mentioned are elevating the dangers that inflation and rates of interest stay excessive.
Together with the excessive charges, he talked about the Federal Reserve’s efforts to scale back its bond holdings. The method, often called quantitative tightening, “reduces liquidity within the system at a time when market-making capabilities are more and more restricted by rules,” he mentioned.
Dimon just lately has mentioned that he has been warning shoppers concerning the chance that rates of interest might not solely keep elevated but in addition might rise considerably from right here.
“Whereas we hope for the most effective, we put together the Agency for a broad vary of outcomes so we are able to constantly ship for shoppers regardless of the atmosphere,” he mentioned.
JPMorgan Chase confirmed a $13.15 billion, or $4.33 a share, revenue for the July-through-September interval, a 35% bounce from a yr in the past. Dimon additional cautioned that the efficiency got here from advantages to internet curiosity revenue and credit score prices that probably will not final.
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